Columbia Partners L L C Investment Management Sells 50,886 Shares of Halliburton Company (HAL)
Columbia Partners L L C Investment Management cut its stake in Halliburton Company (NYSE:HAL) by 89.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,709 shares of the oilfield services company’s stock after selling 50,886 shares during the quarter. Columbia Partners L L C Investment Management’s holdings in Halliburton were worth $262,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of HAL. BlackRock Inc. increased its stake in shares of Halliburton by 2,760.4% in the 1st quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after acquiring an additional 50,022,982 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Halliburton by 107.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after acquiring an additional 8,105,286 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Halliburton by 35.1% in the 2nd quarter. Franklin Resources Inc. now owns 14,813,901 shares of the oilfield services company’s stock worth $632,678,000 after acquiring an additional 3,844,946 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of Halliburton by 7,314.7% in the 2nd quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after acquiring an additional 3,700,084 shares during the last quarter. Finally, Janus Henderson Group PLC increased its stake in shares of Halliburton by 3,294.9% in the 2nd quarter. Janus Henderson Group PLC now owns 3,784,359 shares of the oilfield services company’s stock worth $161,631,000 after acquiring an additional 3,672,887 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on HAL. B. Riley reaffirmed a “buy” rating on shares of Halliburton in a research note on Wednesday, November 1st. TheStreet raised Halliburton from a “d+” rating to a “c-” rating in a research note on Friday, September 29th. BidaskClub downgraded Halliburton from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. FBR & Co lowered their price target on Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a report on Friday, July 28th. Finally, Loop Capital reiterated a “buy” rating and set a $57.00 price target (down from $62.00) on shares of Halliburton in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $57.55.
Shares of Halliburton Company (NYSE:HAL) traded up $0.26 during midday trading on Friday, hitting $41.77. The stock had a trading volume of 5,899,890 shares, compared to its average volume of 8,530,399. The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78. The firm has a market cap of $36,446.04, a price-to-earnings ratio of 57.22, a PEG ratio of 4.51 and a beta of 1.05.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The business had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the company earned $0.01 EPS. The business’s quarterly revenue was up 42.0% on a year-over-year basis. sell-side analysts forecast that Halliburton Company will post 1.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Wednesday, December 6th. Halliburton’s dividend payout ratio (DPR) is presently 300.01%.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman David J. Lesar sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total value of $2,185,000.00. Following the sale, the chairman now directly owns 490,143 shares in the company, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
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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