Pennsylvania Trust Co Acquires Shares of 31,519 Halliburton Company (NYSE:HAL)
Pennsylvania Trust Co acquired a new stake in shares of Halliburton Company (NYSE:HAL) during the second quarter, Holdings Channel reports. The firm acquired 31,519 shares of the oilfield services company’s stock, valued at approximately $1,346,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Sumitomo Mitsui Financial Group Inc. acquired a new position in Halliburton during the first quarter valued at approximately $100,000. Perigon Wealth Management LLC raised its position 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 during the last quarter. Ledyard National Bank raised its position 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 during the last quarter. Independent Portfolio Consultants Inc. raised its position 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 during the last quarter. Finally, Tradewinds Capital Management LLC raised its position 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 during the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.
Halliburton Company (HAL) traded down 0.49% during trading on Friday, reaching $40.31. 2,053,650 shares of the company were exchanged. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $58.78. The firm’s 50 day moving average is $42.69 and its 200 day moving average is $47.89. The stock’s market capitalization is $35.13 billion.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business’s revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.14) EPS. Analysts expect that Halliburton Company will post $1.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Investors 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 dividend yield of 1.78%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
Several research firms have recently commented on HAL. Royal Bank Of Canada set a $65.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Saturday, June 24th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Halliburton in a research note on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research note on Saturday, July 22nd. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $60.00 price objective (down previously from $67.00) on shares of Halliburton in a research note on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $59.60.
In other news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $46.33 per share, with a total value 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 legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.46% of the company’s stock.
Halliburton Company Profile
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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