IBM Retirement Fund Buys 11,618 Shares of Halliburton Company (HAL)
IBM Retirement Fund increased its stake in Halliburton Company (NYSE:HAL) by 121.4% during the second quarter, Holdings Channel reports. The institutional investor owned 21,185 shares of the oilfield services company’s stock after buying an additional 11,618 shares during the period. IBM Retirement Fund’s holdings in Halliburton were worth $1,010,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Boys Arnold & Co. Inc. bought a new stake in Halliburton during the first quarter valued at approximately $201,000. Bollard Group LLC raised its stake in Halliburton by 13.0% in the first quarter. Bollard Group LLC now owns 101,413 shares of the oilfield services company’s stock valued at $4,991,000 after buying an additional 11,668 shares in the last quarter. Ledyard National Bank raised its stake in 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 in the last quarter. Courier Capital LLC bought a new stake in Halliburton during the first quarter valued at approximately $292,000. Finally, Feltz Wealth PLAN Inc. bought a new stake in Halliburton during the first quarter valued at approximately $276,000. Institutional investors and hedge funds own 78.54% of the company’s stock.
Halliburton Company (NYSE:HAL) opened at 39.32 on Thursday. The stock’s 50 day moving average price is $42.46 and its 200-day moving average price is $47.33. Halliburton Company has a 12-month low of $39.13 and a 12-month high of $58.78. The stock’s market capitalization is $34.27 billion.
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, topping the Zacks’ consensus estimate of $0.18 by $0.05. The company had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) earnings per share. Analysts expect that Halliburton Company will post $1.12 earnings per share for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.83%. Halliburton’s payout ratio is currently -423.50%.
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Several research firms have commented on HAL. HSBC Holdings plc began coverage on Halliburton in a research report on Wednesday, April 19th. They issued a “buy” rating and a $65.00 price objective on the stock. Cowen and Company lowered their price objective on Halliburton from $59.00 to $54.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 26th. Jefferies Group LLC set a $69.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Monday, April 24th. BMO Capital Markets set a $65.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Monday, April 24th. Finally, Deutsche Bank AG lowered their price objective on Halliburton from $64.00 to $57.00 and set a “buy” rating on the stock in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $59.60.
Halliburton Company Profile
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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