Associated Banc Corp lowered its stake in shares of Halliburton Company (NYSE:HAL) by 13.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 64,598 shares of the oilfield services company’s stock after selling 9,688 shares during the period. Associated Banc Corp’s holdings in Halliburton were worth $2,759,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Fund Evaluation Group LLC boosted its stake in Halliburton by 0.4% during the 1st quarter. Fund Evaluation Group LLC now owns 4,406 shares of the oilfield services company’s stock valued at $217,000 after purchasing an additional 16 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in Halliburton by 0.8% during the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after purchasing an additional 17 shares during the last quarter. Appleton Partners Inc. MA boosted its stake in Halliburton by 0.4% during the 2nd quarter. Appleton Partners Inc. MA now owns 5,158 shares of the oilfield services company’s stock valued at $220,000 after purchasing an additional 21 shares during the last quarter. Hanson McClain Inc. boosted its stake in Halliburton by 0.8% during the 1st quarter. Hanson McClain Inc. now owns 4,513 shares of the oilfield services company’s stock valued at $222,000 after purchasing an additional 34 shares during the last quarter. Finally, Tradewinds Capital Management LLC boosted its stake in Halliburton by 1.2% during the 1st quarter. Tradewinds Capital Management LLC now owns 2,879 shares of the oilfield services company’s stock valued at $142,000 after purchasing an additional 35 shares during the last quarter. Institutional investors and hedge funds own 79.53% of the company’s stock.
In other Halliburton news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total value of $1,705,380.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.46% of the company’s stock.
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Halliburton Company (HAL) opened at 42.31 on Friday. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78. The stock’s market capitalization is $36.88 billion. The company has a 50-day moving average of $40.41 and a 200 day moving average of $45.08.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.05. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. Halliburton’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.14) EPS. On average, equities research analysts anticipate that Halliburton Company will post $1.12 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. Halliburton’s dividend payout ratio is currently -423.50%.
A number of brokerages have recently weighed in on HAL. Seaport Global Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $43.00 to $50.00 in a research note on Thursday, July 20th. Zacks Investment Research upgraded Halliburton from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Halliburton in a research note on Thursday, July 20th. Jefferies Group LLC restated a “buy” rating and issued a $69.00 target price on shares of Halliburton in a research note on Friday, May 26th. Finally, Credit Suisse Group set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Halliburton presently has a consensus rating of “Buy” and a consensus target price of $58.61.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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