Halliburton Company (HAL) Shares Sold by Ontario Teachers Pension Plan Board
Ontario Teachers Pension Plan Board reduced its holdings in shares of Halliburton Company (NYSE:HAL) by 55.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,181 shares of the oilfield services company’s stock after selling 11,429 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Halliburton were worth $392,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of Halliburton during the 1st quarter worth approximately $100,000. Perigon Wealth Management LLC lifted its stake in shares of Halliburton by 0.8% during the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after acquiring an additional 17 shares during the last quarter. Ledyard National Bank lifted its stake in shares of Halliburton by 6.5% during the 2nd quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after acquiring an additional 150 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its stake in shares of Halliburton by 5.0% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after acquiring an additional 128 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. lifted its stake in shares of Halliburton by 87.6% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after acquiring an additional 1,266 shares during the last quarter. 79.51% of the stock is owned by hedge funds and other institutional investors.
In related 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.46% of the company’s stock.
A number of equities research analysts have weighed in on the company. TheStreet lowered Halliburton from a “c-” rating to a “d+” rating in a research report on Thursday, June 29th. Seaport Global Securities raised Halliburton from a “neutral” rating to a “buy” rating and lifted their target price for the company from $43.00 to $50.00 in a research report on Thursday, July 20th. BidaskClub lowered Halliburton from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. FBR & Co decreased their target price on 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 target price on Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $58.49.
Halliburton Company (HAL) opened at 45.18 on Thursday. The firm’s market cap is $39.38 billion. Halliburton Company has a one year low of $38.18 and a one year high of $58.78. The stock has a 50 day moving average price of $41.57 and a 200 day moving average price of $44.32.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 company posted ($0.14) earnings per share. The business’s revenue was up 29.3% on a year-over-year basis. Equities research analysts expect that Halliburton Company will post $1.12 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
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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