Integrated Investment Consultants LLC Increases Stake in Halliburton Company (NYSE:HAL)
Integrated Investment Consultants LLC boosted its position in Halliburton Company (NYSE:HAL) by 7.3% during the second quarter, Holdings Channel reports. The fund owned 5,450 shares of the oilfield services company’s stock after buying an additional 370 shares during the period. Integrated Investment Consultants LLC’s holdings in Halliburton were worth $233,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in HAL. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC increased 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 worth $101,000 after buying an additional 17 shares during the last quarter. Ledyard National Bank increased 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 worth $114,000 after buying an additional 25 shares during the last quarter. Independent Portfolio Consultants Inc. increased 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 worth $116,000 after buying an additional 1,266 shares during the last quarter. Finally, Tradewinds Capital Management LLC increased 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 worth $142,000 after buying an additional 35 shares during the last quarter. 79.67% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company (HAL) traded down 1.21% on Friday, hitting $40.02. The stock had a trading volume of 5,519,611 shares. Halliburton Company has a 52-week low of $40.00 and a 52-week high of $58.78. The firm’s 50-day moving average is $42.63 and its 200-day moving average is $47.79. The company’s market cap is $34.88 billion.
Halliburton (NYSE:HAL) last released its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion during 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%. Halliburton’s revenue was up 29.3% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. Equities research analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.
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A number of analysts have issued reports on the company. UBS AG reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Halliburton in a research note on Monday, May 15th. BidaskClub downgraded Halliburton from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada set a $65.00 price objective on Halliburton and gave the stock a “buy” rating in a research note on Saturday, June 24th. Credit Suisse Group set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, FBR & Co dropped their target price on Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 28th. One equities research analyst has 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 company. The stock currently has an average rating of “Buy” and an average price target of $59.60.
In related news, Director William E. Albrecht bought 8,000 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which is available through this hyperlink. Company 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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