Halliburton (HAL) Position Reduced by Retirement Systems of Alabama
Retirement Systems of Alabama decreased its stake in Halliburton (NYSE:HAL) by 1.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,872 shares of the oilfield services company’s stock after selling 5,957 shares during the quarter. Retirement Systems of Alabama’s holdings in Halliburton were worth $18,514,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. McKinley Carter Wealth Services Inc. acquired a new position in Halliburton in the first quarter worth $129,000. Trust Co. of Vermont boosted its stake in Halliburton by 58.5% in the second quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock worth $137,000 after purchasing an additional 1,116 shares in the last quarter. CNB Bank boosted its stake in Halliburton by 110.5% in the first quarter. CNB Bank now owns 2,991 shares of the oilfield services company’s stock worth $140,000 after purchasing an additional 1,570 shares in the last quarter. Princeton Capital Management LLC acquired a new position in Halliburton in the first quarter worth $147,000. Finally, Rainier Group Investment Advisory LLC acquired a new position in Halliburton in the first quarter worth $169,000. 79.41% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on HAL. Zacks Investment Research lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Monday, July 2nd. ValuEngine lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Monday, May 14th. Barclays set a $62.00 price objective on Halliburton and gave the stock a “buy” rating in a research note on Wednesday, April 25th. Jefferies Financial Group set a $60.00 price objective on Halliburton and gave the stock a “buy” rating in a research note on Monday, April 23rd. Finally, BMO Capital Markets set a $63.00 price objective on Halliburton and gave the stock a “buy” rating in a research note on Tuesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. Halliburton currently has a consensus rating of “Buy” and an average price target of $59.33.
Halliburton (NYSE:HAL) last released its earnings results on Monday, April 23rd. The oilfield services company reported $0.41 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.41. The company had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.74 billion. Halliburton had a positive return on equity of 15.87% and a negative net margin of 1.74%. The firm’s quarterly revenue was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.04 earnings per share. equities research analysts predict that Halliburton will post 2.46 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Stockholders of record on Wednesday, September 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.59%. Halliburton’s payout ratio is currently 59.02%.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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