Sun Life Financial INC Raises Holdings in Halliburton Company (HAL)
Sun Life Financial INC grew its holdings in shares of Halliburton Company (NYSE:HAL) by 27,960.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,454 shares of the oilfield services company’s stock after purchasing an additional 6,431 shares during the quarter. Sun Life Financial INC’s holdings in Halliburton were worth $276,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Pine River Capital Management L.P. boosted its position in Halliburton by 21.2% during the second quarter. Pine River Capital Management L.P. now owns 646,791 shares of the oilfield services company’s stock worth $27,626,000 after purchasing an additional 113,329 shares during the period. Tudor Investment Corp ET AL boosted its position in Halliburton by 84.5% during the second quarter. Tudor Investment Corp ET AL now owns 21,620 shares of the oilfield services company’s stock worth $923,000 after purchasing an additional 9,905 shares during the period. Balyasny Asset Management LLC boosted its position in Halliburton by 7,314.7% during the second quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock worth $160,191,000 after purchasing an additional 3,700,084 shares during the period. Doliver Capital Advisors LP bought a new position in Halliburton during the second quarter worth about $256,000. Finally, Summit Financial Wealth Advisors LLC boosted its position in Halliburton by 0.8% during the second quarter. Summit Financial Wealth Advisors LLC now owns 13,715 shares of the oilfield services company’s stock worth $586,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 79.51% of the company’s stock.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction on 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 accessible through this hyperlink. Corporate insiders own 0.46% of the company’s stock.
Shares of Halliburton Company (NYSE:HAL) traded up 0.44% on Friday, hitting $46.03. 6,683,345 shares of the company traded hands. The stock’s market capitalization is $40.12 billion. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78. The firm’s 50 day moving average price is $40.41 and its 200-day moving average price is $44.79.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm posted ($0.14) EPS. Halliburton’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities research analysts expect that Halliburton Company will post $1.12 earnings per share 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. The ex-dividend date was Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.56%. Halliburton’s payout ratio is presently -423.50%.
HAL has been the subject of a number of research reports. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Friday, September 1st. Jefferies Group LLC set a $56.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Halliburton from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a “buy” rating on shares of Halliburton in a research report on Saturday, July 22nd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $60.00 price objective on shares of Halliburton in a research report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $58.61.
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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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