Halliburton Co. (HAL) Stake Reduced by Deltec Asset Management LLC
Deltec Asset Management LLC cut its position in shares of Halliburton Co. (NYSE:HAL) by 25.1% during the second quarter, Holdings Channel reports. The firm owned 14,930 shares of the oilfield services company’s stock after selling 5,000 shares during the period. Deltec Asset Management LLC’s holdings in Halliburton were worth $676,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the stock. Manchester Capital Management LLC increased its position in shares of Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares during the period. Pitcairn Co. increased its position in shares of Halliburton by 0.7% in the second quarter. Pitcairn Co. now owns 7,694 shares of the oilfield services company’s stock worth $349,000 after buying an additional 54 shares during the period. Alpha Windward LLC increased its position in shares of Halliburton by 1.6% in the second quarter. Alpha Windward LLC now owns 3,609 shares of the oilfield services company’s stock worth $163,000 after buying an additional 58 shares during the period. Evanson Asset Management LLC increased its position in shares of Halliburton by 0.9% in the second quarter. Evanson Asset Management LLC now owns 9,815 shares of the oilfield services company’s stock worth $445,000 after buying an additional 84 shares during the period. Finally, Capital Investment Advisors LLC increased its position in shares of Halliburton by 0.9% in the second quarter. Capital Investment Advisors LLC now owns 14,111 shares of the oilfield services company’s stock worth $639,000 after buying an additional 121 shares during the period. 79.64% of the stock is owned by hedge funds and other institutional investors.
Halliburton Co. (NYSE:HAL) traded up 3.54% during midday trading on Wednesday, reaching $42.72. The company’s stock had a trading volume of 7,610,232 shares. The stock has a 50 day moving average of $43.58 and a 200 day moving average of $41.49. Halliburton Co. has a 52 week low of $27.64 and a 52 week high of $46.90. The firm’s market capitalization is $36.79 billion.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Wednesday, July 20th. The oilfield services company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.19) by $0.05. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.76 billion. Halliburton had a positive return on equity of 3.55% and a negative net margin of 30.50%. Halliburton’s revenue for the quarter was down 35.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. On average, equities research analysts predict that Halliburton Co. will post ($0.17) earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Investors of record on Wednesday, September 7th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.69%. Halliburton’s dividend payout ratio (DPR) is presently -10.86%.
Several equities research analysts have recently weighed in on the company. Simmons increased their price objective on Halliburton from $48.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, June 21st. Seaport Global Securities reissued a “buy” rating on shares of Halliburton in a report on Thursday, July 21st. Johnson Rice reissued an “accumulate” rating on shares of Halliburton in a report on Monday, July 25th. Vetr downgraded Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price objective for the company. in a report on Tuesday, September 6th. Finally, Iberia Capital reissued an “outperform” rating and issued a $50.00 price objective on shares of Halliburton in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.65.
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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