Halliburton Company (NYSE:HAL) Shares Bought by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. increased its position in Halliburton Company (NYSE:HAL) by 261.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,112,557 shares of the oilfield services company’s stock after buying an additional 1,528,779 shares during the period. PNC Financial Services Group Inc. owned about 0.24% of Halliburton worth $103,959,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Israel Discount Bank of New York GFN bought a new stake in Halliburton during the fourth quarter worth about $100,000. Independent Advisor Alliance acquired a new position in shares of Halliburton during the fourth quarter worth approximately $101,000. Perigon Wealth Management LLC acquired a new position in shares of Halliburton during the fourth quarter worth approximately $109,000. Ledyard National Bank boosted 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 worth $114,000 after buying an additional 25 shares during the last quarter. Finally, Sowell Financial Services LLC acquired a new position in shares of Halliburton during the fourth quarter worth approximately $117,000. 79.67% of the stock is owned by institutional investors.
Shares of Halliburton Company (HAL) traded down 1.29% during mid-day trading on Monday, hitting $41.45. 7,517,023 shares of the stock were exchanged. The stock’s 50-day moving average price is $43.18 and its 200-day moving average price is $48.44. The company’s market cap is $36.13 billion. Halliburton Company has a 52-week low of $40.12 and a 52-week high of $58.78.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities research analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
A number of brokerages recently commented on HAL. BidaskClub cut shares of Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. FBR & Co decreased their target price on shares of Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. Scotiabank set a $52.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Tuesday, July 25th. UBS AG restated a “buy” rating and issued a $62.00 price objective (down previously from $70.00) on shares of Halliburton in a research report on Tuesday, July 25th. Finally, Credit Suisse Group restated an “outperform” rating and issued a $55.00 price objective (down previously from $60.00) on shares of Halliburton in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $58.85.
In other news, Director William E. Albrecht purchased 8,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was acquired at an average price of $46.33 per share, for a total transaction of $370,640.00. Following the completion of the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $370,640. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.47% of the company’s stock.
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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