Cohen Klingenstein LLC Acquires New Shares in Halliburton (NYSE:HAL)
Cohen Klingenstein LLC acquired a new stake in Halliburton (NYSE:HAL) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 8,500 shares of the oilfield services company’s stock, valued at approximately $208,000.
Several other hedge funds have also recently added to or reduced their stakes in HAL. Raymond James Trust N.A. raised its holdings in Halliburton by 7.4% in the fourth quarter. Raymond James Trust N.A. now owns 37,375 shares of the oilfield services company’s stock worth $915,000 after purchasing an additional 2,583 shares in the last quarter. DNB Asset Management AS raised its holdings in Halliburton by 19.1% in the fourth quarter. DNB Asset Management AS now owns 130,976 shares of the oilfield services company’s stock worth $3,205,000 after purchasing an additional 21,014 shares in the last quarter. Allred Capital Management LLC bought a new position in Halliburton in the fourth quarter worth about $161,000. Diligent Investors LLC bought a new position in Halliburton in the fourth quarter worth about $231,000. Finally, Evanson Asset Management LLC raised its holdings in Halliburton by 10.0% in the fourth quarter. Evanson Asset Management LLC now owns 11,971 shares of the oilfield services company’s stock worth $293,000 after purchasing an additional 1,090 shares in the last quarter. Hedge funds and other institutional investors own 77.84% of the company’s stock.
A number of equities analysts have commented on the stock. BMO Capital Markets downgraded shares of Halliburton from an “outperform” rating to a “market perform” rating and set a $23.00 target price for the company. in a report on Wednesday, December 18th. AltaCorp Capital downgraded shares of Halliburton from a “sector perform” rating to an “underperform” rating in a report on Wednesday, December 18th. Stifel Nicolaus boosted their target price on shares of Halliburton from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. Royal Bank of Canada reduced their target price on shares of Halliburton from $28.00 to $23.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Finally, Argus downgraded shares of Halliburton from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the stock. Halliburton presently has an average rating of “Buy” and an average price target of $29.32.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, October 21st. The oilfield services company reported $0.34 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.34. Halliburton had a return on equity of 12.03% and a net margin of 5.12%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s revenue was down 10.1% on a year-over-year basis. On average, equities analysts expect that Halliburton will post 1.21 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Thursday, December 5th were given a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.05%. Halliburton’s dividend payout ratio is currently 37.89%.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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