Victory Capital Management Inc. lowered its stake in shares of Halliburton (NYSE:HAL – Get Rating) by 6.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 546,721 shares of the oilfield services company’s stock after selling 39,349 shares during the quarter. Victory Capital Management Inc. owned approximately 0.06% of Halliburton worth $19,811,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Thoroughbred Financial Services LLC bought a new stake in Halliburton during the 1st quarter worth about $249,000. Banque Pictet & Cie SA grew its holdings in Halliburton by 38.3% during the 1st quarter. Banque Pictet & Cie SA now owns 108,147 shares of the oilfield services company’s stock worth $4,096,000 after acquiring an additional 29,974 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in Halliburton during the 1st quarter worth about $213,000. Envestnet Asset Management Inc. lifted its position in Halliburton by 16.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 93,122 shares of the oilfield services company’s stock valued at $3,527,000 after purchasing an additional 12,816 shares during the period. Finally, Waldron Private Wealth LLC lifted its position in Halliburton by 1.5% during the 1st quarter. Waldron Private Wealth LLC now owns 38,922 shares of the oilfield services company’s stock valued at $1,473,000 after purchasing an additional 589 shares during the period. Institutional investors own 79.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the stock. Barclays upped their target price on shares of Halliburton from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. StockNews.com downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Thursday, April 28th. Citigroup raised their target price on shares of Halliburton from $44.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, April 20th. Stifel Nicolaus raised their price target on shares of Halliburton from $32.00 to $42.00 in a research note on Friday, April 8th. Finally, Wells Fargo & Company decreased their price target on shares of Halliburton from $42.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $39.53.
Halliburton Stock Down 4.1 %
Halliburton (NYSE:HAL – Get Rating) last released its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.04. Halliburton had a return on equity of 19.91% and a net margin of 8.19%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $4.71 billion. During the same period in the previous year, the business posted $0.26 earnings per share. The business’s quarterly revenue was up 36.9% compared to the same quarter last year. Sell-side analysts anticipate that Halliburton will post 2.02 EPS for the current fiscal year.
Halliburton Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 1st were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.76%. The ex-dividend date was Tuesday, May 31st. Halliburton’s dividend payout ratio (DPR) is presently 30.19%.
Insider Buying and Selling at Halliburton
In other Halliburton news, EVP Lawrence J. Pope sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $39.95, for a total value of $399,500.00. Following the transaction, the executive vice president now directly owns 283,342 shares of the company’s stock, valued at $11,319,512.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Lawrence J. Pope sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $39.95, for a total transaction of $399,500.00. Following the transaction, the executive vice president now directly owns 283,342 shares of the company’s stock, valued at $11,319,512.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joe D. Rainey sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $42.73, for a total value of $854,600.00. Following the transaction, the insider now directly owns 310,014 shares in the company, valued at $13,246,898.22. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $1,663,600. 0.57% of the stock is currently owned by company insiders.
Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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