Eagle Asset Management Inc. reduced its holdings in Halliburton (NYSE:HAL) by 9.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,927 shares of the oilfield services company’s stock after selling 3,949 shares during the quarter. Eagle Asset Management Inc.’s holdings in Halliburton were worth $752,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Park National Corp OH boosted its position in shares of Halliburton by 17.5% during the second quarter. Park National Corp OH now owns 151,374 shares of the oilfield services company’s stock valued at $3,443,000 after purchasing an additional 22,547 shares in the last quarter. Salem Capital Management Inc. boosted its position in shares of Halliburton by 10.4% during the second quarter. Salem Capital Management Inc. now owns 127,900 shares of the oilfield services company’s stock valued at $2,908,000 after purchasing an additional 12,075 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Halliburton by 0.3% during the second quarter. Retirement Systems of Alabama now owns 407,586 shares of the oilfield services company’s stock valued at $9,269,000 after purchasing an additional 1,292 shares in the last quarter. Corrado Advisors LLC bought a new stake in shares of Halliburton during the second quarter valued at approximately $114,000. Finally, DAVENPORT & Co LLC bought a new stake in shares of Halliburton during the second quarter valued at approximately $27,315,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.
In other Halliburton news, Director William E. Albrecht purchased 8,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was purchased at an average price of $19.35 per share, for a total transaction of $154,800.00. Following the completion of the purchase, the director now directly owns 16,000 shares of the company’s stock, valued at $309,600. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by insiders.
Halliburton (NYSE:HAL) last released its earnings results on Monday, October 21st. The oilfield services company reported $0.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.34. Halliburton had a return on equity of 12.03% and a net margin of 5.12%. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities research analysts predict that Halliburton will post 1.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Stockholders of record on Thursday, December 5th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio is currently 37.89%.
Several equities research analysts recently weighed in on HAL shares. Citigroup dropped their price target on Halliburton from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Stifel Nicolaus dropped their target price on Halliburton from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays downgraded Halliburton from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $31.00 to $23.00 in a report on Monday, September 16th. Stephens dropped their target price on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Halliburton in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $30.88.
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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