HL Financial Services LLC cut its stake in Halliburton Co. (NYSE:HAL) by 1.2% during the second quarter, Holdings Channel reports. The firm owned 58,783 shares of the oilfield services company’s stock after selling 708 shares during the period. HL Financial Services LLC’s holdings in Halliburton were worth $2,662,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its stake in shares of Halliburton by 1.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 104,753 shares of the oilfield services company’s stock valued at $3,566,000 after buying an additional 1,300 shares during the period. CrestPoint Capital Management LLC boosted its stake in shares of Halliburton by 10.4% in the first quarter. CrestPoint Capital Management LLC now owns 7,400 shares of the oilfield services company’s stock valued at $264,000 after buying an additional 700 shares during the period. Raymond James Trust N.A. boosted its stake in shares of Halliburton by 9.8% in the first quarter. Raymond James Trust N.A. now owns 28,851 shares of the oilfield services company’s stock valued at $1,030,000 after buying an additional 2,575 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in shares of Halliburton by 7.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 44,074 shares of the oilfield services company’s stock valued at $1,574,000 after buying an additional 3,146 shares during the period. Finally, Hills Bank & Trust Co. boosted its stake in shares of Halliburton by 35.4% in the first quarter. Hills Bank & Trust Co. now owns 16,800 shares of the oilfield services company’s stock valued at $600,000 after buying an additional 4,390 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.

Shares of Halliburton Co. (NYSE:HAL) traded up 3.54% during midday trading on Wednesday, hitting $42.72. 7,610,232 shares of the stock traded hands. Halliburton Co. has a 52 week low of $27.64 and a 52 week high of $46.90. The stock’s market capitalization is $36.79 billion. The firm has a 50-day moving average price of $43.58 and a 200-day moving average price of $41.49.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.05. The business earned $3.84 billion during the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%. Halliburton’s quarterly revenue was down 35.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. On average, equities analysts predict that Halliburton Co. will post ($0.17) earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 28th. Stockholders of record on Wednesday, September 7th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.69%. Halliburton’s payout ratio is -10.86%.

HAL has been the subject of several recent analyst reports. Zacks Investment Research raised Halliburton from a “sell” rating to a “hold” rating in a research report on Monday, May 30th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Halliburton in a research report on Thursday, June 2nd. Susquehanna reissued a “positive” rating and set a $55.00 price objective (up previously from $47.00) on shares of Halliburton in a research report on Monday, June 13th. Howard Weil lifted their price objective on Halliburton from $37.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 15th. Finally, Scotiabank reissued a “sector perform” rating and set a $45.00 price objective (up previously from $37.00) on shares of Halliburton in a research report on Wednesday, June 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Halliburton presently has a consensus rating of “Buy” and an average price target of $46.65.

About Halliburton

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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