Halliburton Co. (HAL) Shares Sold by Northwestern Mutual Investment Management Company LLC
Northwestern Mutual Investment Management Company LLC cut its stake in shares of Halliburton Co. (NYSE:HAL) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 946,218 shares of the oilfield services company’s stock after selling 122,323 shares during the period. Halliburton makes up about 0.9% of Northwestern Mutual Investment Management Company LLC’s investment portfolio, making the stock its 19th largest position. Northwestern Mutual Investment Management Company LLC owned 0.11% of Halliburton worth $42,854,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Advisor Partners LLC increased its stake in Halliburton by 9.5% in the second quarter. Advisor Partners LLC now owns 11,487 shares of the oilfield services company’s stock valued at $520,000 after buying an additional 996 shares in the last quarter. Channing Capital Management LLC increased its stake in Halliburton by 28.9% in the second quarter. Channing Capital Management LLC now owns 143,543 shares of the oilfield services company’s stock valued at $6,501,000 after buying an additional 32,209 shares in the last quarter. Brown Advisory Inc. increased its stake in Halliburton by 15.1% in the second quarter. Brown Advisory Inc. now owns 41,655 shares of the oilfield services company’s stock valued at $1,886,000 after buying an additional 5,472 shares in the last quarter. Schroder Investment Management Group increased its stake in Halliburton by 497.8% in the second quarter. Schroder Investment Management Group now owns 2,473,431 shares of the oilfield services company’s stock valued at $112,022,000 after buying an additional 2,059,670 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Halliburton during the second quarter valued at about $904,000. Institutional investors and hedge funds own 80.15% of the company’s stock.
Shares of Halliburton Co. (NYSE:HAL) opened at 48.01 on Monday. The stock’s market capitalization is $41.50 billion. The firm has a 50-day moving average of $46.29 and a 200 day moving average of $43.92. Halliburton Co. has a one year low of $27.64 and a one year high of $50.23.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.08. The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.87 billion. Halliburton had a negative net margin of 33.29% and a positive return on equity of 1.82%. The business’s quarterly revenue was down 31.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. On average, equities research analysts predict that Halliburton Co. will post ($0.05) EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Wednesday, December 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Monday, December 5th. Halliburton’s payout ratio is currently -10.98%.
Several equities research analysts have issued reports on the company. Societe Generale downgraded Halliburton from a “buy” rating to a “hold” rating and increased their target price for the stock from $46.00 to $50.00 in a research report on Monday, July 18th. Vetr downgraded Halliburton from a “hold” rating to a “sell” rating and set a $46.86 target price on the stock. in a research report on Wednesday, October 19th. Cowen and Company increased their target price on Halliburton from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 20th. Nomura restated a “buy” rating and set a $61.00 target price (up previously from $54.00) on shares of Halliburton in a research report on Thursday, October 20th. Finally, FBR & Co set a $58.00 target price on Halliburton and gave the stock a “buy” rating in a research report on Thursday, October 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and a consensus target price of $50.81.
In other Halliburton news, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman David J. Lesar sold 10,000 shares of the business’s stock in a transaction on Wednesday, October 19th. The stock was sold at an average price of $49.99, for a total transaction of $499,900.00. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
Halliburton Company Profile
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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