Forsta AP Fonden Decreases Stake in Halliburton Company (HAL)
Forsta AP Fonden lowered its stake in Halliburton Company (NYSE:HAL) by 67.7% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 62,100 shares of the oilfield services company’s stock after selling 130,000 shares during the period. Forsta AP Fonden’s holdings in Halliburton were worth $2,652,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui Financial Group Inc. bought a new stake in Halliburton during the first quarter valued at approximately $100,000. Perigon Wealth Management LLC boosted its stake in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares in the last quarter. Ledyard National Bank boosted its stake in Halliburton by 1.1% in the first quarter. Ledyard National Bank now owns 2,319 shares of the oilfield services company’s stock valued at $114,000 after buying an additional 25 shares in the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares in the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Halliburton by 1.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,879 shares of the oilfield services company’s stock valued at $142,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.
Shares of Halliburton Company (NYSE HAL) traded down 0.10% during midday trading on Friday, reaching $41.99. 6,534,104 shares of the company’s stock traded hands. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $58.78. The stock has a 50 day moving average of $43.18 and a 200-day moving average of $48.44. The stock’s market cap is $36.60 billion.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.14) EPS. On average, equities research analysts expect that Halliburton Company will post $1.12 EPS for the current year.
The company 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 dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.71%. The ex-dividend date is Friday, September 1st. Halliburton’s payout ratio is -423.50%.
Several analysts recently commented on the stock. UBS AG restated a “buy” rating and set a $70.00 price target on shares of Halliburton in a report on Monday, May 15th. BidaskClub cut shares of Halliburton from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, Scotiabank set a $52.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $58.85.
In other news, Director William E. Albrecht acquired 8,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $46.33 per share, for a total transaction of $370,640.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $370,640. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.46% of the stock is owned by company insiders.
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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