Greenleaf Trust acquired a new stake in Halliburton (NYSE:HAL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,760 shares of the oilfield services company’s stock, valued at approximately $260,000.
A number of other hedge funds have also recently made changes to their positions in HAL. Moors & Cabot Inc. raised its holdings in shares of Halliburton by 2.9% during the 1st quarter. Moors & Cabot Inc. now owns 34,491 shares of the oilfield services company’s stock worth $1,619,000 after acquiring an additional 969 shares during the period. Wealthstreet Investment Advisors LLC raised its holdings in shares of Halliburton by 3.6% during the 1st quarter. Wealthstreet Investment Advisors LLC now owns 31,539 shares of the oilfield services company’s stock worth $1,481,000 after acquiring an additional 1,100 shares during the period. State Treasurer State of Michigan raised its holdings in shares of Halliburton by 0.4% during the 1st quarter. State Treasurer State of Michigan now owns 256,879 shares of the oilfield services company’s stock worth $12,058,000 after acquiring an additional 1,100 shares during the period. Xact Kapitalforvaltning AB raised its holdings in shares of Halliburton by 1.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 93,786 shares of the oilfield services company’s stock worth $4,226,000 after acquiring an additional 1,105 shares during the period. Finally, Trust Co. of Vermont raised its holdings in shares of Halliburton by 58.5% during the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock worth $137,000 after acquiring an additional 1,116 shares during the period. Institutional investors own 78.73% of the company’s stock.
Several research analysts have recently commented on HAL shares. ValuEngine lowered Halliburton from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. Citigroup reduced their price objective on shares of Halliburton from $61.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, June 25th. Jefferies Financial Group set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, July 24th. Cowen reduced their price objective on shares of Halliburton from $51.00 to $47.00 and set a “market perform” rating on the stock in a report on Tuesday, July 24th. Finally, Zacks Investment Research downgraded Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, July 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $55.82.
In other Halliburton news, Director Murry Gerber bought 5,800 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was purchased at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the completion of the purchase, the director now directly owns 60,961 shares in the company, valued at $2,478,674.26. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by insiders.
HAL stock opened at $39.97 on Monday. The company has a market cap of $36.90 billion, a P/E ratio of 32.76, a price-to-earnings-growth ratio of 2.37 and a beta of 0.96. Halliburton has a fifty-two week low of $38.18 and a fifty-two week high of $57.86. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.24 and a quick ratio of 1.72.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.01). The business had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.12 billion. Halliburton had a return on equity of 19.48% and a net margin of 0.42%. Halliburton’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 EPS. sell-side analysts anticipate that Halliburton will post 2.21 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.80%. The ex-dividend date is Tuesday, September 4th. Halliburton’s payout ratio is 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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