Voloridge Investment Management LLC increased its position in Halliburton (NYSE:HAL) by 35.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 799,521 shares of the oilfield services company’s stock after buying an additional 207,743 shares during the period. Halliburton accounts for 0.5% of Voloridge Investment Management LLC’s portfolio, making the stock its 29th largest holding. Voloridge Investment Management LLC’s holdings in Halliburton were worth $18,181,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. increased its holdings in Halliburton by 903.2% in the second quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock worth $29,000 after buying an additional 1,129 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Halliburton in the second quarter worth approximately $32,000. Mizuho Securities Co. Ltd. acquired a new position in Halliburton in the second quarter worth approximately $45,000. Dougherty Wealth Advisers LLC acquired a new position in Halliburton in the second quarter worth approximately $45,000. Finally, Icon Wealth Partners LLC acquired a new position in Halliburton in the first quarter worth approximately $48,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.
In other Halliburton news, Director William E. Albrecht acquired 8,000 shares of Halliburton stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $19.35 per share, with a total value of $154,800.00. Following the completion of the transaction, the director now owns 16,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 22nd. The oilfield services company reported $0.35 earnings per share for the quarter, beating the 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 company had revenue of $5.93 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the prior year, the business earned $0.58 earnings per share. Halliburton’s revenue for the quarter was down 3.5% compared to the same quarter last year. Analysts expect that Halliburton will post 1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.72 annualized dividend and a dividend yield of 3.69%. Halliburton’s dividend payout ratio is 37.89%.
A number of equities analysts recently commented on the company. Wells Fargo & Co dropped their price objective on Halliburton from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. Barclays downgraded Halliburton from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $31.00 to $23.00 in a report on Monday, September 16th. Bank of America dropped their price objective on Halliburton from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Edward Jones downgraded Halliburton from a “buy” rating to a “hold” rating in a report on Monday, June 10th. Finally, Stephens decreased their target price on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $36.64.
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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