Halliburton Company (HAL) Position Cut by NEXT Financial Group Inc
NEXT Financial Group Inc decreased its stake in shares of Halliburton Company (NYSE:HAL) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,226 shares of the oilfield services company’s stock after selling 2,616 shares during the period. NEXT Financial Group Inc’s holdings in Halliburton were worth $309,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently made changes to their positions in HAL. Berkshire Asset Management LLC PA increased its stake in shares of Halliburton by 1.4% in the first quarter. Berkshire Asset Management LLC PA now owns 7,125 shares of the oilfield services company’s stock valued at $351,000 after buying an additional 98 shares during the period. CWM LLC increased its stake in shares of Halliburton by 7.1% in the first quarter. CWM LLC now owns 27,539 shares of the oilfield services company’s stock worth $1,355,000 after buying an additional 1,814 shares during the last quarter. Viking Fund Management LLC increased its stake in shares of Halliburton by 3.7% in the first quarter. Viking Fund Management LLC now owns 560,000 shares of the oilfield services company’s stock worth $27,558,000 after buying an additional 20,000 shares during the last quarter. Tompkins Financial Corp bought a new stake in shares of Halliburton during the first quarter worth about $163,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of Halliburton during the first quarter worth about $583,000. 79.67% of the stock is currently owned by institutional investors.
Shares of Halliburton Company (NYSE HAL) traded down 1.21% during midday trading on Friday, reaching $40.02. 5,519,611 shares of the company traded hands. Halliburton Company has a 1-year low of $40.00 and a 1-year high of $58.78. The stock has a 50 day moving average price of $42.63 and a 200 day moving average price of $47.79. The firm’s market capitalization is $34.88 billion.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (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 firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter last year, the firm posted ($0.14) EPS. The business’s revenue was up 29.3% on a year-over-year basis. Analysts expect that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
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A number of analysts have recently issued reports on HAL shares. TheStreet downgraded shares of Halliburton from a “c-” rating to a “d+” rating in a report on Thursday, June 29th. Seaport Global Securities raised shares of Halliburton from a “neutral” rating to a “buy” rating and raised their price target for the company from $43.00 to $50.00 in a report on Thursday, July 20th. BidaskClub downgraded shares of Halliburton from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 27th. Cowen and Company dropped their price target on shares of Halliburton from $59.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday, April 26th. Finally, FBR & Co dropped their price target on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.60.
In other news, Director William E. Albrecht acquired 8,000 shares of Halliburton stock in a transaction that occurred on Monday, May 15th. The stock was purchased at an average cost of $46.33 per share, with a total value of $370,640.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $370,640. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.46% of the stock is currently 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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