Victory Capital Management Inc. decreased its position in Halliburton (NYSE:HAL – Get Rating) by 6.7% in the first quarter, HoldingsChannel.com reports. The fund owned 546,721 shares of the oilfield services company’s stock after selling 39,349 shares during the period. Victory Capital Management Inc.’s holdings in Halliburton were worth $19,811,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HAL. Janney Montgomery Scott LLC raised its stake in shares of Halliburton by 86.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 77,786 shares of the oilfield services company’s stock valued at $1,779,000 after buying an additional 35,992 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Halliburton in the 4th quarter worth approximately $1,303,000. Commonwealth Equity Services LLC raised its position in shares of Halliburton by 10.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 251,380 shares of the oilfield services company’s stock valued at $5,749,000 after buying an additional 24,288 shares during the period. Illinois Municipal Retirement Fund raised its position in Halliburton by 26.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 51,478 shares of the oilfield services company’s stock valued at $1,177,000 after purchasing an additional 10,867 shares during the period. Finally, Yousif Capital Management LLC purchased a new stake in Halliburton in the fourth quarter valued at approximately $3,278,000. Hedge funds and other institutional investors own 79.17% of the company’s stock.
Wall Street Analyst Weigh In
HAL has been the subject of several research reports. Wells Fargo & Company dropped their price target on shares of Halliburton from $42.00 to $33.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 20th. StockNews.com downgraded Halliburton from a “buy” rating to a “hold” rating in a research note on Thursday, April 28th. ATB Capital lifted their price target on Halliburton to $46.50 in a research note on Friday, July 22nd. Susquehanna Bancshares lifted their price objective on Halliburton from $45.00 to $48.00 in a report on Wednesday, April 20th. Finally, Barclays boosted their price target on Halliburton from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Wednesday, June 8th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.53.
Halliburton Stock Performance
Halliburton (NYSE:HAL – Get Rating) last issued its quarterly earnings results on Tuesday, July 19th. The oilfield services company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $4.71 billion. Halliburton had a return on equity of 19.91% and a net margin of 8.19%. The firm’s quarterly revenue was up 36.9% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. On average, equities research analysts anticipate that Halliburton will post 2.02 EPS for the current year.
Halliburton Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Wednesday, June 1st were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Tuesday, May 31st. Halliburton’s payout ratio is currently 30.19%.
Insider Buying and Selling at Halliburton
In other Halliburton news, EVP Lawrence J. Pope sold 10,000 shares of the stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $39.95, for a total transaction of $399,500.00. Following the completion of the transaction, the executive vice president now directly owns 283,342 shares of the company’s stock, valued at approximately $11,319,512.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, insider Joe D. Rainey sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $42.73, for a total transaction of $854,600.00. Following the completion of the sale, the insider now directly owns 310,014 shares of the company’s stock, valued at approximately $13,246,898.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Lawrence J. Pope sold 10,000 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $39.95, for a total value of $399,500.00. Following the sale, the executive vice president now directly owns 283,342 shares of the company’s stock, valued at $11,319,512.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,000 shares of company stock valued at $1,663,600. 0.57% of the stock is owned by corporate insiders.
Halliburton Company Profile
Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.
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