Confluence Wealth Management LLC Has $892,000 Stake in Halliburton Company (HAL)
Confluence Wealth Management LLC held its position in shares of Halliburton Company (NYSE:HAL) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,126 shares of the oilfield services company’s stock at the close of the 2nd quarter. Confluence Wealth Management LLC’s holdings in Halliburton were worth $892,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. TLP Group LLC grew its position in Halliburton by 25.1% in the 2nd quarter. TLP Group LLC now owns 12,259 shares of the oilfield services company’s stock valued at $524,000 after purchasing an additional 2,459 shares during the period. Parametric Portfolio Associates LLC grew its position in Halliburton by 28.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 2,104,992 shares of the oilfield services company’s stock valued at $89,904,000 after purchasing an additional 462,116 shares during the period. Cibc World Markets Corp grew its position in Halliburton by 601.9% in the 2nd quarter. Cibc World Markets Corp now owns 635,530 shares of the oilfield services company’s stock valued at $27,143,000 after purchasing an additional 544,984 shares during the period. Suntrust Banks Inc. grew its position in Halliburton by 17.4% in the 2nd quarter. Suntrust Banks Inc. now owns 131,829 shares of the oilfield services company’s stock valued at $5,629,000 after purchasing an additional 19,498 shares during the period. Finally, Wealthfront Inc. grew its position in Halliburton by 26.3% in the 2nd quarter. Wealthfront Inc. now owns 31,113 shares of the oilfield services company’s stock valued at $1,329,000 after purchasing an additional 6,488 shares during the period. 79.51% of the stock is owned by institutional investors and hedge funds.
Shares of Halliburton Company (HAL) opened at 44.87 on Monday. The stock’s 50 day moving average price is $40.41 and its 200 day moving average price is $44.79. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78. The company’s market capitalization is $39.11 billion. Halliburton also was the target of some unusual options trading on Friday. Investors bought 8,071 call options on the company. This is an increase of approximately 107% compared to the average daily volume of 3,906 call options.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The business’s revenue was up 29.3% compared to the same quarter last year. On average, analysts forecast that Halliburton Company will post $1.12 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. Halliburton’s payout ratio is currently -423.50%.
Several research firms recently issued reports on HAL. J P Morgan Chase & Co reduced their price target on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Tuesday, September 12th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group reissued an “outperform” rating and issued a $55.00 price target (down previously from $60.00) on shares of Halliburton in a research report on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Saturday, July 22nd. Finally, Zacks Investment Research downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and an average price target of $58.61.
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In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.47% of the stock is owned by corporate insiders.
Halliburton Company Profile
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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