Commonwealth Equity Services Inc Lowers Stake in Halliburton Company (HAL)
Commonwealth Equity Services Inc reduced its stake in shares of Halliburton Company (NYSE:HAL) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,924 shares of the oilfield services company’s stock after selling 7,253 shares during the period. Commonwealth Equity Services Inc’s holdings in Halliburton were worth $5,658,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Perigon Wealth Management LLC raised its holdings in shares of Halliburton by 0.8% during the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after purchasing an additional 17 shares during the last quarter. Comerica Securities Inc. raised its holdings in shares of Halliburton by 0.3% during the second quarter. Comerica Securities Inc. now owns 6,606 shares of the oilfield services company’s stock worth $282,000 after purchasing an additional 18 shares during the last quarter. Appleton Partners Inc. MA raised its holdings in shares of Halliburton by 0.4% during the second quarter. Appleton Partners Inc. MA now owns 5,158 shares of the oilfield services company’s stock worth $220,000 after purchasing an additional 21 shares during the last quarter. Hedeker Wealth LLC raised its holdings in shares of Halliburton by 0.3% during the second quarter. Hedeker Wealth LLC now owns 19,541 shares of the oilfield services company’s stock worth $834,000 after purchasing an additional 56 shares during the last quarter. Finally, 440 Investment Group LLC raised its holdings in shares of Halliburton by 0.3% during the second quarter. 440 Investment Group LLC now owns 20,074 shares of the oilfield services company’s stock worth $857,000 after purchasing an additional 60 shares during the last quarter. 79.94% of the stock is owned by hedge funds and other institutional investors.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of the business’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 document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the completion of the transaction, the chairman now owns 490,143 shares in the company, valued at $21,419,249.10. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
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Halliburton Company (NYSE:HAL) traded up $0.26 during trading hours on Friday, reaching $41.77. 5,899,890 shares of the company’s stock traded hands, compared to its average volume of 8,530,399. The company has a quick ratio of 1.67, a current ratio of 2.20 and a debt-to-equity ratio of 1.13. The firm has a market cap of $36,446.04, a price-to-earnings ratio of 57.22, a price-to-earnings-growth ratio of 4.51 and a beta of 1.05. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.04. The company had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. Halliburton’s revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 EPS. sell-side analysts anticipate that Halliburton Company will post 1.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.72 annualized dividend and a yield of 1.72%. Halliburton’s payout ratio is 300.01%.
Several research analysts recently issued reports on HAL shares. Loop Capital reissued a “buy” rating and set a $57.00 target price (down previously from $62.00) on shares of Halliburton in a report on Tuesday, October 24th. ValuEngine cut shares of Halliburton from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Scotiabank reissued a “buy” rating and set a $52.00 target price on shares of Halliburton in a report on Wednesday, October 25th. J P Morgan Chase & Co reduced their target price on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. Finally, Cowen and Company set a $50.00 target price on shares of Halliburton and gave the stock a “hold” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five 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 a consensus target price of $57.55.
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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