Halliburton (HAL) Holdings Reduced by Morningstar Investment Services LLC
Morningstar Investment Services LLC reduced its position in Halliburton (NYSE:HAL) by 7.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,870 shares of the oilfield services company’s stock after selling 1,999 shares during the period. Morningstar Investment Services LLC’s holdings in Halliburton were worth $1,121,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. McKinley Carter Wealth Services Inc. acquired a new position in shares of Halliburton in the 1st quarter valued at $129,000. Squar Milner Financial Services LLC acquired a new position in shares of Halliburton in the 2nd quarter valued at $130,000. Trust Co. of Vermont boosted its holdings in shares of Halliburton by 58.5% in the 2nd quarter. Trust Co. of Vermont now owns 3,024 shares of the oilfield services company’s stock valued at $137,000 after purchasing an additional 1,116 shares during the last quarter. CNB Bank boosted its holdings in shares of Halliburton by 110.5% in the 1st quarter. CNB Bank now owns 2,991 shares of the oilfield services company’s stock valued at $140,000 after purchasing an additional 1,570 shares during the last quarter. Finally, Princeton Capital Management LLC acquired a new position in shares of Halliburton in the 1st quarter valued at $147,000. 79.29% of the stock is owned by hedge funds and other institutional investors.
In other Halliburton news, Director Murry Gerber bought 5,800 shares of Halliburton stock in a transaction that occurred on Thursday, July 26th. The shares were acquired at an average price of $40.66 per share, for a total transaction of $235,828.00. Following the acquisition, the director now owns 60,961 shares of the company’s stock, valued at approximately $2,478,674.26. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.54% of the company’s stock.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 23rd. The oilfield services company reported $0.58 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.01). The business had revenue of $6.15 billion for the quarter, compared to analyst estimates of $6.12 billion. Halliburton had a net margin of 0.42% and a return on equity of 19.48%. The business’s revenue was up 24.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.23 EPS. sell-side analysts forecast that Halliburton will post 2.21 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 26th. Investors of record on Wednesday, September 5th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 4th. This represents a $0.72 annualized dividend and a dividend yield of 1.72%. Halliburton’s payout ratio is 59.02%.
A number of brokerages have weighed in on HAL. Wells Fargo & Co lifted their price target on shares of Halliburton from $58.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Bank of America upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Thursday, May 10th. ValuEngine upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Credit Suisse Group set a $65.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Monday, April 23rd. Finally, BMO Capital Markets set a $63.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $55.82.
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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