Greenleaf Trust reduced its holdings in shares of Halliburton (NYSE:HAL – Free Report) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,024 shares of the oilfield services company’s stock after selling 846 shares during the quarter. Greenleaf Trust’s holdings in Halliburton were worth $412,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. increased its holdings in Halliburton by 259.5% in the 1st quarter. Sei Investments Co. now owns 166,407 shares of the oilfield services company’s stock worth $6,281,000 after purchasing an additional 120,122 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Halliburton by 70.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 128,001 shares of the oilfield services company’s stock worth $4,847,000 after purchasing an additional 52,933 shares in the last quarter. Prudential PLC acquired a new position in Halliburton in the 1st quarter worth about $696,000. Parkside Financial Bank & Trust increased its holdings in Halliburton by 81.5% in the 1st quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company’s stock worth $89,000 after purchasing an additional 1,054 shares in the last quarter. Finally, Covestor Ltd increased its holdings in Halliburton by 83.7% in the 1st quarter. Covestor Ltd now owns 3,384 shares of the oilfield services company’s stock worth $128,000 after purchasing an additional 1,542 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.
Insider Activity at Halliburton
In other Halliburton news, CEO Jeffrey Allen Miller sold 99,355 shares of Halliburton stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $3,974,200.00. Following the completion of the sale, the chief executive officer now owns 719,818 shares of the company’s stock, valued at $28,792,720. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Eric Carre sold 66,589 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $35.00, for a total transaction of $2,330,615.00. Following the transaction, the chief financial officer now owns 128,619 shares in the company, valued at approximately $4,501,665. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Allen Miller sold 99,355 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.00, for a total value of $3,974,200.00. Following the transaction, the chief executive officer now owns 719,818 shares in the company, valued at approximately $28,792,720. The disclosure for this sale can be found here. Over the last quarter, insiders sold 187,266 shares of company stock valued at $7,133,323. Company insiders own 0.60% of the company’s stock.
Halliburton Stock Performance
Halliburton (NYSE:HAL – Get Free Report) last released its earnings results on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.85 billion. Halliburton had a return on equity of 31.01% and a net margin of 10.98%. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.49 earnings per share. On average, analysts expect that Halliburton will post 3.04 earnings per share for the current year.
Halliburton Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, September 5th. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.
Analyst Upgrades and Downgrades
HAL has been the subject of several recent research reports. UBS Group increased their price target on Halliburton from $49.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. HSBC decreased their price target on Halliburton from $57.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, July 21st. Susquehanna increased their price target on Halliburton from $42.00 to $44.00 and gave the company a “positive” rating in a research note on Thursday, July 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $45.00 target price on shares of Halliburton in a research note on Tuesday, August 1st. Finally, StockNews.com started coverage on Halliburton in a report on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Halliburton has an average rating of “Buy” and an average target price of $47.79.
Read Our Latest Analysis on Halliburton
About Halliburton
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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