Mckinley Capital Management LLC Delaware Trims Holdings in Halliburton Company (HAL)
Mckinley Capital Management LLC Delaware trimmed its position in shares of Halliburton Company (NYSE:HAL) by 13.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 537,888 shares of the oilfield services company’s stock after selling 85,802 shares during the period. Mckinley Capital Management LLC Delaware owned 0.06% of Halliburton worth $22,973,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in Halliburton by 2.2% during the second quarter. Vanguard Group Inc. now owns 59,770,447 shares of the oilfield services company’s stock valued at $2,552,795,000 after purchasing an additional 1,267,141 shares during the period. BlackRock Inc. grew its holdings in Halliburton by 7.6% during the second quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after purchasing an additional 3,955,245 shares during the period. Wellington Management Group LLP grew its holdings in Halliburton by 1.1% during the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after purchasing an additional 227,704 shares during the period. Ameriprise Financial Inc. grew its holdings in Halliburton by 107.8% during the second quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock valued at $667,362,000 after purchasing an additional 8,105,286 shares during the period. Finally, FMR LLC grew its holdings in Halliburton by 2.1% during the second quarter. FMR LLC now owns 15,415,634 shares of the oilfield services company’s stock valued at $658,402,000 after purchasing an additional 313,189 shares during the period. 79.51% of the stock is owned by institutional investors and hedge funds.
Shares of Halliburton Company (NYSE HAL) remained flat at $44.69 on Tuesday. 2,278,303 shares of the stock traded hands. The firm’s market capitalization is $38.95 billion. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78. The stock has a 50 day moving average price of $40.41 and a 200 day moving average price of $44.79.
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 the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The business’s revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.14) EPS. Analysts predict that Halliburton Company will post $1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is -423.50%.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were 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 SEC, which is available through this link. 0.47% of the stock is currently owned by corporate insiders.
HAL has been the subject of several research reports. ValuEngine lowered Halliburton from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Jefferies Group LLC set a $56.00 price objective on Halliburton and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research raised Halliburton from a “sell” rating to a “hold” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating on shares of Halliburton in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price objective on shares of Halliburton in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $58.61.
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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