Eagle Ridge Investment Management Decreases Position in Halliburton Company (HAL)
Eagle Ridge Investment Management reduced its stake in shares of Halliburton Company (NYSE:HAL) by 2.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 108,577 shares of the oilfield services company’s stock after selling 2,768 shares during the period. Eagle Ridge Investment Management’s holdings in Halliburton were worth $4,637,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in HAL. Boys Arnold & Co. Inc. bought a new stake in Halliburton during the first quarter valued at about $201,000. Moody National Bank Trust Division boosted its stake in Halliburton by 3.8% in the first quarter. Moody National Bank Trust Division now owns 15,267 shares of the oilfield services company’s stock valued at $752,000 after buying an additional 565 shares during the period. Rothschild Investment Corp IL boosted its stake in Halliburton by 0.3% in the first quarter. Rothschild Investment Corp IL now owns 143,470 shares of the oilfield services company’s stock valued at $7,060,000 after buying an additional 425 shares during the period. State of Alaska Department of Revenue bought a new stake in Halliburton during the first quarter valued at about $385,000. Finally, TRUE Private Wealth Advisors boosted its stake in Halliburton by 4.7% in the first quarter. TRUE Private Wealth Advisors now owns 8,857 shares of the oilfield services company’s stock valued at $440,000 after buying an additional 400 shares during the period. 78.54% of the stock is owned by institutional investors.
Shares of Halliburton Company (NYSE HAL) opened at 38.66 on Wednesday. The firm’s market cap is $33.70 billion. The stock has a 50 day moving average of $42.16 and a 200-day moving average of $46.88. Halliburton Company has a 1-year low of $38.18 and a 1-year high of $58.78.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.14) EPS. Equities analysts anticipate that Halliburton Company will post $1.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.86%. Halliburton’s payout ratio is -423.50%.
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HAL has been the subject of several research reports. Deutsche Bank AG lowered their price target on shares of Halliburton from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Tuesday, April 25th. Cowen and Company lowered their price target on shares of Halliburton from $59.00 to $54.00 and set a “market perform” rating for the company in a research report on Wednesday, April 26th. Sanford C. Bernstein reaffirmed a “buy” rating on shares of Halliburton in a research report on Thursday, May 4th. UBS AG reaffirmed a “buy” rating and issued a $70.00 price target on shares of Halliburton in a research report on Monday, May 15th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 price target on shares of Halliburton in a research report on Friday, May 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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