Lockheed Martin Investment Management Co. Has $1,025,000 Position in Halliburton Company (HAL)
Lockheed Martin Investment Management Co. maintained its stake in Halliburton Company (NYSE:HAL) during the second quarter, Holdings Channel reports. The fund owned 24,000 shares of the oilfield services company’s stock at the end of the second quarter. Lockheed Martin Investment Management Co.’s holdings in Halliburton were worth $1,025,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Halliburton during the first quarter worth $100,000. Perigon Wealth Management LLC boosted its position in shares of 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 in the last quarter. Ledyard National Bank boosted its position in shares of Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. boosted its position in shares of Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of 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 in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.
Halliburton Company (HAL) opened at 38.99 on Friday. The firm’s market cap is $33.98 billion. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The company has a 50-day moving average of $42.27 and a 200-day moving average of $47.14.
Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the 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 negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. Equities research analysts forecast that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The business 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. This represents a $0.72 annualized dividend and a yield of 1.85%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is -423.50%.
A number of brokerages have recently weighed in on HAL. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group reissued an “outperform” rating and set a $55.00 price target (down from $60.00) on shares of Halliburton in a research report on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Sanford C. Bernstein reissued a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. One 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $59.60.
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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