Morningstar Investment Services LLC Cuts Position in Halliburton (HAL)
Morningstar Investment Services LLC reduced its stake in Halliburton (NYSE:HAL) by 33.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,556 shares of the oilfield services company’s stock after selling 7,908 shares during the quarter. Morningstar Investment Services LLC’s holdings in Halliburton were worth $413,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. SevenBridge Financial Group LLC lifted its position in Halliburton by 387.5% in the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock valued at $26,000 after acquiring an additional 775 shares in the last quarter. Essex Savings Bank bought a new stake in Halliburton in the 4th quarter valued at $27,000. CX Institutional bought a new stake in Halliburton in the 4th quarter valued at $30,000. IMS Capital Management bought a new stake in Halliburton in the 3rd quarter valued at $46,000. Finally, Capital Investment Advisory Services LLC bought a new stake in Halliburton in the 4th quarter valued at $38,000. 80.05% of the stock is currently owned by institutional investors and hedge funds.
In other Halliburton news, VP Anne L. Beaty sold 2,548 shares of the business’s stock in a transaction dated Wednesday, January 9th. The shares were sold at an average price of $29.48, for a total value of $75,115.04. Following the completion of the sale, the vice president now owns 56,663 shares of the company’s stock, valued at approximately $1,670,425.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lance Loeffler sold 5,926 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total transaction of $168,002.10. Following the completion of the sale, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The disclosure for this sale can be found here. Insiders sold a total of 9,774 shares of company stock valued at $280,167 in the last three months. Insiders own 0.54% of the company’s stock.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.04. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.87 billion. Halliburton had a net margin of 6.90% and a return on equity of 18.57%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. Research analysts expect that Halliburton will post 1.39 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend is Tuesday, March 5th. Halliburton’s dividend payout ratio is currently 37.89%.
Several equities research analysts recently commented on HAL shares. Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “strong sell” rating in a research report on Friday, January 11th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a research report on Sunday, January 6th. UBS Group set a $40.00 price objective on shares of Halliburton and gave the company a “buy” rating in a research report on Wednesday, January 23rd. Cowen raised shares of Halliburton from a “market perform” rating to an “outperform” rating and cut their price target for the stock from $45.00 to $35.00 in a research report on Thursday, January 17th. Finally, Citigroup set a $45.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $45.50.
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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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