Ballentine Partners LLC Invests $392,000 in Halliburton Company (HAL)
Ballentine Partners LLC purchased a new position in shares of Halliburton Company (NYSE:HAL) during the second quarter, according to its most recent filing with the SEC. The fund purchased 9,169 shares of the oilfield services company’s stock, valued at approximately $392,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after buying an additional 2,242,976 shares during the period. BlackRock Inc. raised its position in Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares during the period. Wellington Management Group LLP raised its position in Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock worth $1,004,532,000 after buying an additional 227,704 shares during the period. FMR LLC raised its position in Halliburton by 11.0% in the first quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock worth $743,191,000 after buying an additional 1,496,685 shares during the period. Finally, Geode Capital Management LLC raised its position in Halliburton by 8.3% in the first quarter. Geode Capital Management LLC now owns 8,273,561 shares of the oilfield services company’s stock worth $406,548,000 after buying an additional 635,993 shares during the period. Hedge funds and other institutional investors own 79.52% of the company’s stock.
Halliburton Company (NYSE HAL) opened at 38.67 on Thursday. The company has a 50-day moving average of $41.73 and a 200-day moving average of $46.52. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78. The company’s market capitalization is $33.70 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm’s revenue was up 29.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.14) earnings per share. Equities analysts expect that Halliburton Company will post $1.12 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.86%. Halliburton’s dividend payout ratio (DPR) is -423.50%.
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HAL has been the subject of a number of recent analyst reports. TheStreet lowered shares of Halliburton from a “c-” rating to a “d+” rating in a research report on Thursday, June 29th. Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and boosted their price target for the company from $43.00 to $50.00 in a research report on Thursday, July 20th. BidaskClub lowered shares of Halliburton from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. FBR & Co reduced their price target on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Finally, Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Halliburton currently has an average rating of “Buy” and an average target price of $59.13.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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