Fayez Sarofim & Co. Has $1,396,000 Position in Halliburton Company (HAL)
Fayez Sarofim & Co. raised its stake in shares of Halliburton Company (NYSE:HAL) by 54.9% during the third quarter, Holdings Channel reports. The fund owned 31,104 shares of the oilfield services company’s stock after buying an additional 11,025 shares during the period. Fayez Sarofim & Co.’s holdings in Halliburton Company were worth $1,396,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of HAL. IndexIQ Advisors LLC raised its position in shares of Halliburton Company by 114.4% in the third quarter. IndexIQ Advisors LLC now owns 2,388 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 1,274 shares during the last quarter. FTB Advisors Inc. raised its position in shares of Halliburton Company by 31.5% in the third quarter. FTB Advisors Inc. now owns 2,430 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 582 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Halliburton Company by 3.8% in the third quarter. Quadrant Capital Group LLC now owns 2,638 shares of the oilfield services company’s stock valued at $107,000 after buying an additional 96 shares during the last quarter. Motco raised its position in shares of Halliburton Company by 28.0% in the third quarter. Motco now owns 2,742 shares of the oilfield services company’s stock valued at $123,000 after buying an additional 600 shares during the last quarter. Finally, Evercore Wealth Management LLC raised its position in shares of Halliburton Company by 2.5% in the second quarter. Evercore Wealth Management LLC now owns 2,864 shares of the oilfield services company’s stock valued at $130,000 after buying an additional 69 shares during the last quarter. 79.50% of the stock is currently owned by hedge funds and other institutional investors.
Halliburton Company (NYSE:HAL) opened at 54.31 on Friday. The firm’s 50 day moving average price is $55.87 and its 200-day moving average price is $49.21. The company’s market capitalization is $47.08 billion. Halliburton Company has a one year low of $30.84 and a one year high of $58.78.
Halliburton Company (NYSE:HAL) last posted its quarterly earnings results on Monday, January 23rd. The oilfield services company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Halliburton Company had a negative return on equity of 0.15% and a negative net margin of 36.28%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was down 20.9% on a year-over-year basis. Equities analysts forecast that Halliburton Company will post $1.19 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Monday, February 27th. Halliburton Company’s dividend payout ratio (DPR) is presently -10.75%.
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Several equities analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Halliburton Company in a research report on Thursday, December 1st. They set an “outperform” rating and a $64.00 price objective on the stock. Citigroup Inc. reiterated a “buy” rating on shares of Halliburton Company in a report on Friday, October 21st. Scotiabank upgraded Halliburton Company to a “buy” rating and set a $62.00 price target on the stock in a report on Thursday, December 15th. Loop Capital reiterated a “buy” rating and set a $53.00 price target on shares of Halliburton Company in a report on Thursday, October 20th. Finally, Barclays PLC reiterated a “buy” rating and set a $73.00 price target on shares of Halliburton Company in a report on Tuesday, January 10th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. Halliburton Company has a consensus rating of “Buy” and an average target price of $58.07.
In related news, President Jeffrey Allen Miller sold 11,633 shares of the stock in a transaction on Monday, December 5th. The stock was sold at an average price of $54.38, for a total value of $632,602.54. Following the sale, the president now owns 286,795 shares in the company, valued at approximately $15,595,912.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy Mckeon sold 2,611 shares of the stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $54.50, for a total value of $142,299.50. Following the completion of the sale, the insider now owns 15,755 shares in the company, valued at approximately $858,647.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,701 shares of company stock worth $7,238,765. 0.46% of the stock is owned by company insiders.
Halliburton Company Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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