Strs Ohio Has $82.86 Million Position in Halliburton Company (NYSE:HAL)
Strs Ohio boosted its position in shares of Halliburton Company (NYSE:HAL) by 139.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,940,145 shares of the oilfield services company’s stock after buying an additional 1,130,038 shares during the period. Strs Ohio’s holdings in Halliburton were worth $82,863,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after buying an additional 2,242,976 shares in the last quarter. Janus Capital Management LLC raised its stake in shares of Halliburton by 70.1% in the first quarter. Janus Capital Management LLC now owns 4,641,978 shares of the oilfield services company’s stock worth $228,423,000 after buying an additional 1,913,257 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Halliburton by 20,009.4% in the first quarter. Westwood Holdings Group Inc. now owns 1,551,240 shares of the oilfield services company’s stock worth $76,337,000 after buying an additional 1,543,526 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Halliburton by 261.9% in the first quarter. PNC Financial Services Group Inc. now owns 2,112,557 shares of the oilfield services company’s stock worth $103,959,000 after buying an additional 1,528,779 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Halliburton Company (HAL) opened at 39.91 on Tuesday. Halliburton Company has a 1-year low of $39.75 and a 1-year high of $58.78. The stock’s market cap is $34.79 billion. The company’s 50-day moving average is $42.59 and its 200-day moving average is $47.52.
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, beating analysts’ consensus estimates of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. Equities analysts expect that Halliburton Company will post $1.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. Halliburton’s payout ratio is currently -423.50%.
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A number of analysts have recently commented on the stock. UBS AG reiterated a “buy” rating and issued a $70.00 price target on shares of Halliburton in a research note on Monday, May 15th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Saturday, July 1st. BidaskClub lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, FBR & Co reduced their price target on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $59.60.
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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