Halliburton (NYSE:HAL) Shares Sold by Natixis Advisors L.P.
Natixis Advisors L.P. decreased its position in Halliburton (NYSE:HAL) by 8.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,757 shares of the oilfield services company’s stock after selling 16,685 shares during the quarter. Natixis Advisors L.P.’s holdings in Halliburton were worth $4,110,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of HAL. Pzena Investment Management LLC raised its holdings in Halliburton by 89.8% in the second quarter. Pzena Investment Management LLC now owns 23,591,540 shares of the oilfield services company’s stock valued at $536,472,000 after acquiring an additional 11,163,777 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Halliburton during the second quarter worth approximately $27,315,000. Russell Investments Group Ltd. raised its holdings in Halliburton by 25.9% during the second quarter. Russell Investments Group Ltd. now owns 5,366,928 shares of the oilfield services company’s stock worth $122,029,000 after purchasing an additional 1,105,359 shares in the last quarter. CIBC World Markets Inc. raised its holdings in Halliburton by 895.1% during the first quarter. CIBC World Markets Inc. now owns 1,039,923 shares of the oilfield services company’s stock worth $30,470,000 after purchasing an additional 935,416 shares in the last quarter. Finally, Menora Mivtachim Holdings LTD. acquired a new stake in Halliburton during the first quarter worth approximately $26,618,000. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
In other Halliburton news, Director William E. Albrecht bought 8,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the transaction, the director now owns 16,000 shares in the company, valued at approximately $309,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.61% of the company’s stock.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.97 billion. Halliburton had a net margin of 5.58% and a return on equity of 13.76%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. Equities research analysts predict that Halliburton will post 1.32 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.56%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.
A number of analysts have weighed in on the stock. AltaCorp Capital reissued a “sector perform” rating on shares of Halliburton in a report on Thursday, June 20th. Zacks Investment Research raised shares of Halliburton from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a report on Wednesday, July 24th. Wells Fargo & Co cut their price objective on shares of Halliburton from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday. Credit Suisse Group cut their price objective on shares of Halliburton from $33.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, July 23rd. Finally, Stephens cut their price objective on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.00.
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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