Fayez Sarofim & Co. Continues to Hold Position in Halliburton Company (HAL)
Fayez Sarofim & Co. continued to hold its stake in shares of Halliburton Company (NYSE:HAL) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,104 shares of the oilfield services company’s stock at the close of the second quarter. Fayez Sarofim & Co.’s holdings in Halliburton were worth $1,200,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Halliburton by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after purchasing an additional 2,242,976 shares in the last quarter. BlackRock Inc. increased its position in Halliburton by 7.6% during the 2nd quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock worth $2,382,809,000 after purchasing an additional 3,955,245 shares in the last quarter. Wellington Management Group LLP increased its position in Halliburton by 1.1% during the 1st quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock worth $1,004,532,000 after purchasing an additional 227,704 shares in the last quarter. Ameriprise Financial Inc. increased its position in Halliburton by 107.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock worth $667,362,000 after purchasing an additional 8,105,286 shares in the last quarter. Finally, FMR LLC increased its position in Halliburton by 11.0% during the 1st quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock worth $743,191,000 after purchasing an additional 1,496,685 shares in the last quarter. Institutional investors own 79.51% of the company’s stock.
Shares of Halliburton Company (HAL) opened at 43.61 on Thursday. The stock’s market cap is $38.01 billion. Halliburton Company has a one year low of $38.18 and a one year high of $58.78. The stock has a 50 day moving average of $40.41 and a 200 day moving average of $44.79.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.05. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. Halliburton’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. On average, analysts forecast that Halliburton Company will post $1.12 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is presently -423.50%.
In other news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.46% of the stock is owned by insiders.
A number of equities research analysts have weighed in on HAL shares. Royal Bank Of Canada set a $65.00 target price 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 target price on shares of Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. BidaskClub lowered shares of Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, BMO Capital Markets reduced their target price on shares of Halliburton from $65.00 to $51.00 and set an “outperform” rating on the stock in a report on Friday, July 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. Halliburton currently has an average rating of “Buy” and an average target price of $58.61.
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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