Atalanta Sosnoff Capital LLC Sells 103,138 Shares of Halliburton Co. (HAL)
Atalanta Sosnoff Capital LLC decreased its position in Halliburton Co. (NYSE:HAL) by 19.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438,906 shares of the oilfield services company’s stock after selling 103,138 shares during the period. Atalanta Sosnoff Capital LLC owned 0.05% of Halliburton worth $19,698,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in Halliburton by 74.6% in the second quarter. Jennison Associates LLC now owns 10,985,623 shares of the oilfield services company’s stock worth $497,539,000 after buying an additional 4,695,475 shares during the period. FMR LLC boosted its position in shares of Halliburton by 40.1% in the second quarter. FMR LLC now owns 13,373,769 shares of the oilfield services company’s stock worth $605,699,000 after buying an additional 3,829,088 shares in the last quarter. Capital World Investors boosted its position in shares of Halliburton by 13.4% in the second quarter. Capital World Investors now owns 29,055,680 shares of the oilfield services company’s stock worth $1,315,932,000 after buying an additional 3,440,198 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Halliburton during the second quarter worth approximately $126,987,000. Finally, Schroder Investment Management Group boosted its position in shares of 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 worth $112,022,000 after buying an additional 2,059,670 shares in the last quarter. 80.15% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Co. (NYSE:HAL) opened at 49.31 on Friday. The company’s market cap is $42.63 billion. The company’s 50-day moving average is $46.29 and its 200-day moving average is $43.92. Halliburton Co. has a 52 week low of $27.64 and a 52 week high of $50.23.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.08. Halliburton had a negative net margin of 33.29% and a positive return on equity of 1.82%. The business earned $3.83 billion during the quarter, compared to analysts’ expectations of $3.87 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The business’s quarterly revenue was down 31.3% compared to the same quarter last year. On average, analysts anticipate that Halliburton Co. will post ($0.05) EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. Halliburton’s dividend payout ratio is presently -10.98%.
A number of brokerages have commented on HAL. Vetr cut shares of Halliburton from a “hold” rating to a “sell” rating and set a $46.86 price target for the company. in a research note on Wednesday, October 19th. Cowen and Company lifted their target price on shares of Halliburton from $40.00 to $45.00 and gave the company a “market perform” rating in a research note on Thursday, October 20th. Nomura reiterated a “buy” rating and issued a $61.00 target price (up previously from $54.00) on shares of Halliburton in a research note on Thursday, October 20th. FBR & Co set a $58.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Thursday, October 20th. Finally, Societe Generale reiterated a “buy” rating and issued a $58.00 target price on shares of Halliburton in a research note on Sunday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $50.81.
In other news, EVP Eric Carre sold 18,343 shares of the company’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $50.00, for a total value of $917,150.00. Following the completion of the sale, the executive vice president now owns 169,994 shares of the company’s stock, valued at approximately $8,499,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joe D. Rainey sold 1,172 shares of the company’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $50.22, for a total transaction of $58,857.84. The disclosure for this sale can be found here. 0.46% of the stock is currently owned by company insiders.
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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