Salem Capital Management Inc. boosted its position in shares of Halliburton Company (NYSE:HAL) by 1.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 71,000 shares of the oilfield services company’s stock after buying an additional 700 shares during the period. Halliburton accounts for approximately 1.7% of Salem Capital Management Inc.’s investment portfolio, making the stock its 22nd largest position. Salem Capital Management Inc.’s holdings in Halliburton were worth $3,032,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in HAL. Vanguard Group Inc. boosted its position in shares of Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after buying an additional 2,242,976 shares in the last quarter. BlackRock Inc. boosted its position in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock worth $1,004,532,000 after buying an additional 227,704 shares in the last quarter. FMR LLC boosted its position in shares of Halliburton by 11.0% in the first quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock worth $743,191,000 after buying an additional 1,496,685 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Halliburton by 8.3% in the first quarter. Geode Capital Management LLC now owns 8,273,561 shares of the oilfield services company’s stock worth $406,548,000 after buying an additional 635,993 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Halliburton Company (NYSE:HAL) opened at 38.99 on Friday. The stock’s market capitalization is $33.98 billion. The firm’s 50-day moving average price is $42.27 and its 200 day moving average price is $47.14. Halliburton Company has a 12-month low of $38.18 and a 12-month high of $58.78.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the firm earned ($0.14) EPS. The firm’s revenue was up 29.3% compared to the same quarter last year. Analysts predict that Halliburton Company will post $1.12 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Halliburton’s dividend payout ratio is presently -423.50%.
HAL has been the topic of a number of analyst reports. TheStreet lowered Halliburton from a “c-” rating to a “d+” rating in a research note on Thursday, June 29th. Seaport Global Securities raised Halliburton from a “neutral” rating to a “buy” rating and increased their price objective for the company from $43.00 to $50.00 in a research note on Thursday, July 20th. BidaskClub lowered Halliburton from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 27th. Cowen and Company decreased their price objective on Halliburton from $59.00 to $54.00 and set a “market perform” rating on the stock in a research note on Wednesday, April 26th. Finally, FBR & Co decreased their price objective on Halliburton from $70.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $59.60.
Halliburton Company Profile
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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