Pinebridge Investments L.P. Boosts Stake in Halliburton Company (HAL)
Pinebridge Investments L.P. increased its holdings in Halliburton Company (NYSE:HAL) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 19,775 shares of the oilfield services company’s stock after buying an additional 120 shares during the period. Pinebridge Investments L.P.’s holdings in Halliburton were worth $845,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Halliburton by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock valued at $2,878,947,000 after buying an additional 2,242,976 shares during the period. BlackRock Inc. boosted its holdings in shares of Halliburton by 7.6% in the 2nd quarter. BlackRock Inc. now owns 55,790,373 shares of the oilfield services company’s stock valued at $2,382,809,000 after buying an additional 3,955,245 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Halliburton by 1.1% in the 1st quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock valued at $1,004,532,000 after buying an additional 227,704 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Halliburton by 107.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,623,103 shares of the oilfield services company’s stock valued at $667,362,000 after buying an additional 8,105,286 shares during the period. Finally, FMR LLC boosted its holdings in shares of Halliburton by 11.0% in the 1st quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock valued at $743,191,000 after buying an additional 1,496,685 shares during the period. 79.51% of the stock is owned by institutional investors and hedge funds.
Halliburton Company (NYSE HAL) opened at 46.03 on Friday. The stock has a 50 day moving average of $40.41 and a 200 day moving average of $44.79. Halliburton Company has a 52-week low of $38.18 and a 52-week high of $58.78. The stock’s market capitalization is $40.12 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share 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 the consensus estimate of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. Halliburton’s revenue for the quarter was up 29.3% on a year-over-year basis. During the same period last year, the company posted ($0.14) EPS. On average, equities research analysts forecast that Halliburton Company will post $1.12 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were given a $0.18 dividend. The ex-dividend date was Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.56%. Halliburton’s dividend payout ratio is -423.50%.
In related news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.
HAL has been the subject of several research reports. HSBC Holdings plc reaffirmed a “buy” rating and issued a $62.00 price target (down from $65.00) on shares of Halliburton in a report on Thursday, June 22nd. Credit Suisse Group set a $60.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Monday, June 5th. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, June 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $69.00 price target on shares of Halliburton in a report on Friday, June 30th. Finally, Scotiabank reaffirmed a “buy” rating and issued a $59.00 price target on shares of Halliburton in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $58.61.
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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