Riverhead Capital Management LLC Raises Position in Halliburton (NYSE:HAL)
Riverhead Capital Management LLC grew its holdings in Halliburton (NYSE:HAL) by 20.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,733 shares of the oilfield services company’s stock after buying an additional 5,033 shares during the quarter. Riverhead Capital Management LLC’s holdings in Halliburton were worth $676,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of HAL. Geode Capital Management LLC lifted its position in Halliburton by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 9,955,241 shares of the oilfield services company’s stock worth $264,077,000 after acquiring an additional 683,635 shares during the last quarter. United Bank boosted its stake in Halliburton by 4.9% during the 1st quarter. United Bank now owns 12,345 shares of the oilfield services company’s stock valued at $362,000 after purchasing an additional 574 shares during the period. Victory Capital Management Inc. boosted its stake in Halliburton by 687.1% during the 1st quarter. Victory Capital Management Inc. now owns 102,132 shares of the oilfield services company’s stock valued at $2,992,000 after purchasing an additional 89,156 shares during the period. Bbva Compass Bancshares Inc. grew its holdings in Halliburton by 86.1% in the 1st quarter. Bbva Compass Bancshares Inc. now owns 8,980 shares of the oilfield services company’s stock valued at $263,000 after buying an additional 4,155 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Halliburton by 10.0% in the 1st quarter. Cetera Investment Advisers now owns 10,480 shares of the oilfield services company’s stock valued at $306,000 after buying an additional 952 shares during the last quarter. Institutional investors own 77.70% of the company’s stock.
A number of research analysts have recently commented on the company. Citigroup cut their price target on Halliburton from $30.00 to $27.00 and set a “buy” rating for the company in a report on Friday, September 6th. Credit Suisse Group cut their target price on shares of Halliburton from $33.00 to $27.00 and set an “outperform” rating for the company in a research note on Tuesday, July 23rd. Stephens reduced their price target on shares of Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Edward Jones lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research report on Monday, June 10th. Finally, Morgan Stanley dropped their price objective on shares of Halliburton from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.26.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 22nd. The oilfield services company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.05. Halliburton had a return on equity of 13.76% and a net margin of 5.58%. The business had revenue of $5.93 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. Halliburton’s quarterly revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that Halliburton will post 1.33 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.61%. Halliburton’s payout ratio is presently 37.89%.
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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