State of Tennessee Treasury Department Has $49.29 Million Stake in Halliburton Company (HAL)
State of Tennessee Treasury Department trimmed its stake in shares of Halliburton Company (NYSE:HAL) by 23.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,154,028 shares of the oilfield services company’s stock after selling 358,759 shares during the quarter. State of Tennessee Treasury Department owned approximately 0.13% of Halliburton worth $49,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Pinnacle Associates Ltd. raised its position in shares of Halliburton by 2.1% during the second quarter. Pinnacle Associates Ltd. now owns 69,278 shares of the oilfield services company’s stock worth $2,959,000 after acquiring an additional 1,412 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Halliburton by 7.3% during the second quarter. Oppenheimer & Co. Inc. now owns 56,248 shares of the oilfield services company’s stock worth $2,403,000 after acquiring an additional 3,834 shares during the last quarter. Nuance Investments LLC raised its position in shares of Halliburton by 27.0% during the second quarter. Nuance Investments LLC now owns 71,305 shares of the oilfield services company’s stock worth $3,045,000 after acquiring an additional 15,173 shares during the last quarter. Cipher Capital LP raised its position in shares of Halliburton by 437.1% during the second quarter. Cipher Capital LP now owns 81,127 shares of the oilfield services company’s stock worth $3,465,000 after acquiring an additional 66,022 shares during the last quarter. Finally, Swiss National Bank raised its position in shares of Halliburton by 3.4% during the second quarter. Swiss National Bank now owns 3,167,697 shares of the oilfield services company’s stock worth $135,292,000 after acquiring an additional 104,500 shares during the last quarter. Institutional investors own 79.53% of the company’s stock.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the business’s 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is owned by insiders.
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Halliburton Company (NYSE HAL) opened at 40.29 on Monday. The stock’s market capitalization is $35.12 billion. The stock has a 50 day moving average price of $40.63 and a 200-day moving average price of $45.49. Halliburton Company has a 12-month low of $38.18 and a 12-month high of $58.78.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $4.86 billion. During the same quarter in the previous year, the business earned ($0.14) earnings per share. The company’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, equities analysts anticipate 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. Shareholders of record on Wednesday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.79%. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.
HAL has been the subject of a number of research analyst reports. UBS AG reiterated a “buy” rating and issued a $70.00 target price on shares of Halliburton in a report on Monday, May 15th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $53.00 target price on shares of Halliburton in a report on Wednesday, September 6th. Royal Bank Of Canada set a $65.00 target price on Halliburton and gave the stock a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. Finally, BidaskClub downgraded Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and a consensus target price of $58.74.
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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