State Board of Administration of Florida Retirement System Has $57.44 Million Stake in Halliburton Company (HAL)
State Board of Administration of Florida Retirement System lessened its stake in shares of Halliburton Company (NYSE:HAL) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,247,777 shares of the oilfield services company’s stock after selling 10,110 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of Halliburton worth $57,435,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of HAL. Boston Private Wealth LLC raised its holdings in shares of Halliburton by 5.7% during the 1st quarter. Boston Private Wealth LLC now owns 7,080 shares of the oilfield services company’s stock worth $348,000 after acquiring an additional 380 shares during the period. HRT Financial LLC purchased a new position in shares of Halliburton during the 1st quarter worth $600,000. BB&T Securities LLC raised its holdings in shares of Halliburton by 2.0% during the 1st quarter. BB&T Securities LLC now owns 44,801 shares of the oilfield services company’s stock worth $2,204,000 after acquiring an additional 892 shares during the period. Municipal Employees Retirement System of Michigan raised its holdings in shares of Halliburton by 0.9% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 27,890 shares of the oilfield services company’s stock worth $1,372,000 after acquiring an additional 240 shares during the period. Finally, Rafferty Asset Management LLC purchased a new position in shares of Halliburton during the 1st quarter worth $1,208,000. Institutional investors and hedge funds own 79.36% of the company’s stock.
In related news, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the sale, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The disclosure for this sale can be found here. 0.46% of the stock is owned by insiders.
Several research analysts have recently commented on HAL shares. UBS Group AG (USA) reiterated a “buy” rating and set a $62.00 price target (down previously from $70.00) on shares of Halliburton in a report on Tuesday, July 25th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating on shares of Halliburton in a report on Saturday, July 22nd. Piper Jaffray Companies reiterated a “buy” rating and set a $52.00 price target on shares of Halliburton in a report on Wednesday, July 12th. Seaport Global Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $50.00 in a report on Thursday, July 20th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $60.00 price objective on shares of Halliburton in a research report on Thursday, July 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $57.55.
Halliburton Company (NYSE HAL) traded up $0.18 during mid-day trading on Friday, reaching $43.23. The company had a trading volume of 9,505,812 shares, compared to its average volume of 8,210,000. The stock has a market capitalization of $37.72 billion, a PE ratio of 58.48, a price-to-earnings-growth ratio of 4.61 and a beta of 1.05. Halliburton Company has a 12-month low of $38.18 and a 12-month high of $58.78. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.04. The firm had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The firm’s revenue was up 42.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. research analysts predict that Halliburton Company will post 1.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, December 7th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.67%. Halliburton’s payout ratio is 300.00%.
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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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