Texas Permanent School Fund Sells 9,459 Shares of Halliburton Company (HAL)
Texas Permanent School Fund cut its position in shares of Halliburton Company (NYSE:HAL) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 243,844 shares of the oilfield services company’s stock after selling 9,459 shares during the period. Texas Permanent School Fund’s holdings in Halliburton were worth $10,415,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in HAL. Sumitomo Mitsui Financial Group Inc. acquired a new stake in Halliburton during the first quarter worth approximately $100,000. Perigon Wealth Management LLC increased its stake in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares during the last quarter. Ledyard National Bank increased 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 worth $114,000 after buying an additional 25 shares during the last quarter. Bbva Compass Bancshares Inc. increased its stake in Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares during the last quarter. Finally, Independent Portfolio Consultants Inc. increased its stake in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
Halliburton Company (NYSE:HAL) opened at 38.99 on Monday. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The stock has a 50 day moving average of $42.27 and a 200 day moving average of $47.14. The stock’s market capitalization is $33.98 billion.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. The firm’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities research analysts predict that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Halliburton’s dividend payout ratio is presently -423.50%.
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A number of analysts have recently issued reports on the stock. UBS AG restated a “buy” rating and set a $70.00 price target on shares of Halliburton in a report on Monday, May 15th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. BidaskClub downgraded shares of Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company cut their price target on shares of Halliburton from $59.00 to $54.00 and set a “market perform” rating for the company in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. Halliburton has an average rating of “Buy” and a consensus target price of $59.60.
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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