Harel Insurance Investments & Financial Services Ltd. cut its stake in Halliburton (NYSE:HAL) by 99.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,000 shares of the oilfield services company’s stock after selling 190,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Halliburton were worth $29,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HAL. SevenBridge Financial Group LLC lifted its stake 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 buying an additional 775 shares in the last quarter. Essex Savings Bank purchased a new position in Halliburton in the 4th quarter valued at about $27,000. Paragon Capital Management LLC purchased a new position in Halliburton in the 1st quarter valued at about $29,000. American Research & Management Co. purchased a new position in Halliburton in the 1st quarter valued at about $29,000. Finally, CX Institutional purchased a new position in Halliburton in the 4th quarter valued at about $30,000. 80.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Barclays decreased their price target on shares of Halliburton from $38.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 9th. Zacks Investment Research lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. UBS Group set a $40.00 price target on shares of Halliburton and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Stifel Nicolaus set a $36.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, January 22nd. Finally, Royal Bank of Canada set a $48.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $45.38.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, January 22nd. The oilfield services company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.04. The business 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 was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 EPS. On average, sell-side analysts expect that Halliburton will post 1.35 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.18 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.31%. Halliburton’s dividend payout ratio is currently 37.89%.
In other news, CFO Lance Loeffler sold 5,926 shares of the firm’s stock in a transaction that occurred on 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 owns 55,885 shares in the company, valued at approximately $1,584,339.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by company insiders.
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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.
Further Reading: Earnings Per Share
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