Halliburton Company (NYSE:HAL) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. raised its stake in shares of Halliburton Company (NYSE:HAL) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,224,126 shares of the oilfield services company’s stock after buying an additional 16,183 shares during the period. Principal Financial Group Inc. owned approximately 0.14% of Halliburton worth $60,239,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Israel Discount Bank of New York GFN purchased a new position in shares of Halliburton during the fourth quarter valued at about $100,000. Independent Advisor Alliance purchased a new position in shares of Halliburton during the fourth quarter valued at about $101,000. Perigon Wealth Management LLC purchased a new position in shares of Halliburton during the fourth quarter valued at about $109,000. Ledyard National Bank increased its position in shares of Halliburton by 1.1% in the first quarter. Ledyard National Bank now owns 2,319 shares of the oilfield services company’s stock valued at $114,000 after buying an additional 25 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of Halliburton during the fourth quarter valued at about $117,000. 79.80% of the stock is currently owned by institutional investors.
Halliburton Company (HAL) traded down 1.91% during mid-day trading on Thursday, reaching $42.03. 7,885,280 shares of the company’s stock were exchanged. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $58.78. The company’s market cap is $36.63 billion. The stock has a 50-day moving average price of $43.18 and a 200 day moving average price of $48.44.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) earnings per share. Equities analysts predict that Halliburton Company will post $1.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
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Several brokerages recently commented on HAL. UBS AG reaffirmed a “buy” rating and set a $70.00 price target on shares of Halliburton in a research report on Monday, May 15th. BidaskClub lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Royal Bank Of Canada set a $65.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, July 1st. Finally, Scotiabank set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research note on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $58.85.
In other Halliburton news, Director William E. Albrecht bought 8,000 shares of the stock in a transaction on Monday, May 15th. The stock was acquired at an average cost of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the acquisition, the director now owns 8,000 shares in the company, valued at approximately $370,640. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.46% of the stock is owned by insiders.
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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