Halliburton Company (HAL) Short Interest Down 11.2% in August
Halliburton Company (NYSE:HAL) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 19,991,455 shares, a decrease of 11.2% from the August 15th total of 22,506,774 shares. Based on an average daily trading volume, of 6,432,046 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.3% of the company’s stock are short sold.
Shares of Halliburton (NYSE:HAL) opened at 42.62 on Tuesday. The firm’s 50-day moving average is $40.40 and its 200-day moving average is $44.87. Halliburton has a 1-year low of $38.18 and a 1-year high of $58.78. The company’s market cap is $37.15 billion.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the firm posted ($0.14) EPS. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities analysts forecast that Halliburton will post $1.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be given a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.69%. Halliburton’s dividend payout ratio is presently -423.50%.
A number of research firms have recently weighed in on HAL. Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, July 1st. BidaskClub downgraded shares of Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. ValuEngine downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, BMO Capital Markets cut their price objective on shares of Halliburton from $65.00 to $51.00 and set an “outperform” rating on the stock in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.61.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.47% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Sentry Investment Management LLC boosted its position in Halliburton by 102.3% in the 2nd quarter. Sentry Investment Management LLC now owns 69,683 shares of the oilfield services company’s stock worth $2,976,000 after purchasing an additional 35,245 shares in the last quarter. Toronto Dominion Bank boosted its position in Halliburton by 5.8% in the 2nd quarter. Toronto Dominion Bank now owns 743,458 shares of the oilfield services company’s stock worth $31,750,000 after purchasing an additional 40,928 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Halliburton in the 2nd quarter worth approximately $435,000. Afam Capital Inc. boosted its position in Halliburton by 3.7% in the 2nd quarter. Afam Capital Inc. now owns 74,240 shares of the oilfield services company’s stock worth $3,171,000 after purchasing an additional 2,623 shares in the last quarter. Finally, Beaton Management Co. Inc. purchased a new stake in Halliburton in the 2nd quarter worth approximately $214,000. Institutional investors and hedge funds own 79.51% of the company’s stock.
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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