Halliburton Company (HAL) Stake Held by Cohen Klingenstein LLC
Cohen Klingenstein LLC held its position in shares of Halliburton Company (NYSE:HAL) during the second quarter, Holdings Channel reports. The institutional investor owned 8,500 shares of the oilfield services company’s stock at the end of the second quarter. Cohen Klingenstein LLC’s holdings in Halliburton were worth $363,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HAL. CENTRAL TRUST Co raised its position in shares of Halliburton by 71.3% in the first quarter. CENTRAL TRUST Co now owns 8,173 shares of the oilfield services company’s stock valued at $402,000 after buying an additional 3,403 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in shares of Halliburton by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 750,981 shares of the oilfield services company’s stock valued at $36,956,000 after buying an additional 24,253 shares during the period. Atalanta Sosnoff Capital LLC raised its position in shares of Halliburton by 43.5% in the first quarter. Atalanta Sosnoff Capital LLC now owns 577,885 shares of the oilfield services company’s stock valued at $28,438,000 after buying an additional 175,103 shares during the period. Park National Corp OH raised its position in shares of Halliburton by 11.3% in the first quarter. Park National Corp OH now owns 102,811 shares of the oilfield services company’s stock valued at $5,059,000 after buying an additional 10,429 shares during the period. Finally, Cacti Asset Management LLC raised its position in shares of Halliburton by 1.4% in the first quarter. Cacti Asset Management LLC now owns 707,616 shares of the oilfield services company’s stock valued at $34,687,000 after buying an additional 10,000 shares during the period. 79.67% of the stock is owned by institutional investors.
Shares of Halliburton Company (HAL) opened at 45.58 on Thursday. The firm’s market capitalization is $39.56 billion. The company’s 50 day moving average price is $43.65 and its 200 day moving average price is $49.25. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $58.78. Halliburton also saw unusually large options trading on Wednesday. Investors acquired 11,959 put options on the stock. This is an increase of approximately 171% compared to the average volume of 4,407 put options.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, April 24th. The oilfield services company reported $0.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.01. Halliburton had a negative return on equity of 0.48% and a negative net margin of 21.19%. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm earned $0.07 EPS. Halliburton’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts forecast that Halliburton Company will post $1.01 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.58%. Halliburton’s payout ratio is -18.32%.
HAL has been the subject of several recent research reports. Tudor Pickering initiated coverage on shares of Halliburton in a research note on Thursday, March 23rd. They issued a “buy” rating for the company. Scotiabank reissued a “buy” rating and issued a $62.00 price objective on shares of Halliburton in a research note on Wednesday, March 22nd. Deutsche Bank AG reissued a “buy” rating and issued a $64.00 price objective (down previously from $66.00) on shares of Halliburton in a research note on Monday, March 27th. Seaport Global Securities lowered their price objective on shares of Halliburton from $72.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, March 27th. Finally, BMO Capital Markets set a $67.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Wednesday, April 12th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.78.
In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of the business’s stock in a transaction on Monday, May 15th. The stock was purchased at an average price of $46.33 per share, for a total transaction of $370,640.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $370,640. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.46% of the company’s stock.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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