Investors Purchase High Volume of Call Options on Halliburton (HAL)
Halliburton Company (NYSE:HAL) was the target of unusually large options trading activity on Friday. Stock traders bought 8,071 call options on the company. This is an increase of 107% compared to the typical daily volume of 3,906 call options.
Several equities analysts have commented on the stock. J P Morgan Chase & Co decreased their target price on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 target price (down from $60.00) on shares of Halliburton in a report on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $58.61.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.47% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in HAL. BlackRock Inc. boosted its stake in shares of Halliburton by 2,760.4% during the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock valued at $2,550,805,000 after purchasing an additional 50,022,982 shares during the period. Ameriprise Financial Inc. lifted its stake in Halliburton by 107.8% in the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after acquiring an additional 8,105,286 shares during the period. Franklin Resources Inc. lifted its stake in Halliburton by 35.1% in the second quarter. Franklin Resources Inc. now owns 14,813,901 shares of the oilfield services company’s stock worth $632,678,000 after acquiring an additional 3,844,946 shares during the period. Balyasny Asset Management LLC lifted its stake in Halliburton by 7,314.7% in the second quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after acquiring an additional 3,700,084 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in Halliburton by 3,294.9% in the second quarter. Janus Henderson Group PLC now owns 3,784,359 shares of the oilfield services company’s stock worth $161,631,000 after acquiring an additional 3,672,887 shares during the period. 79.51% of the stock is owned by hedge funds and other institutional investors.
Shares of Halliburton (NYSE HAL) opened at 44.25 on Monday. The company’s market cap is $38.57 billion. Halliburton has a 1-year low of $38.18 and a 1-year high of $58.78. The stock has a 50 day moving average of $40.41 and a 200 day moving average of $44.79.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Analysts predict that Halliburton will post $1.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.
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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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