Halliburton Company (HAL) Position Raised by Commerce Bank
Commerce Bank increased its position in shares of Halliburton Company (NYSE:HAL) by 17.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,023 shares of the oilfield services company’s stock after purchasing an additional 4,212 shares during the period. Commerce Bank’s holdings in Halliburton were worth $1,240,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC increased its position in Halliburton by 8.9% during the first quarter. Checchi Capital Advisers LLC now owns 8,631 shares of the oilfield services company’s stock worth $425,000 after purchasing an additional 707 shares during the last quarter. Marietta Investment Partners LLC increased its position in Halliburton by 84.4% during the first quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock worth $1,473,000 after purchasing an additional 13,693 shares during the last quarter. Trexquant Investment LP increased its position in Halliburton by 18.1% during the first quarter. Trexquant Investment LP now owns 19,600 shares of the oilfield services company’s stock worth $965,000 after purchasing an additional 3,000 shares during the last quarter. BB&T Securities LLC increased its position in Halliburton by 25.3% during the second quarter. BB&T Securities LLC now owns 56,135 shares of the oilfield services company’s stock worth $2,397,000 after purchasing an additional 11,334 shares during the last quarter. Finally, Suntrust Banks Inc. increased its position in Halliburton by 5.3% during the first quarter. Suntrust Banks Inc. now owns 112,331 shares of the oilfield services company’s stock worth $5,526,000 after purchasing an additional 5,690 shares during the last quarter. Hedge funds and other institutional investors own 79.53% of the company’s stock.
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In other news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total transaction of $1,705,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.46% of the company’s stock.
Shares of Halliburton Company (NYSE HAL) opened at 40.29 on Friday. The stock’s market cap is $35.12 billion. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78. The stock’s 50 day moving average is $40.63 and its 200 day moving average is $45.49.
Halliburton (NYSE:HAL) last released 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. 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 was up 29.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. Analysts predict that Halliburton Company will post $1.12 earnings per share 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 paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is currently -423.50%.
Several research firms recently issued reports on HAL. UBS AG restated a “buy” rating and set a $70.00 price objective on shares of Halliburton in a research report on Monday, May 15th. Sanford C. Bernstein reiterated an “outperform” rating and set a $53.00 price target on shares of Halliburton in a research report on Wednesday. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the company 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 research report on Saturday, July 1st. Finally, BidaskClub cut shares of Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $58.74.
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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