Ironsides Asset Advisors LLC boosted its holdings in Halliburton (NYSE:HAL) by 71.5% during the third quarter, HoldingsChannel.com reports. The fund owned 15,950 shares of the oilfield services company’s stock after purchasing an additional 6,650 shares during the period. Ironsides Asset Advisors LLC’s holdings in Halliburton were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in Halliburton by 0.5% in the 3rd quarter. BlackRock Inc. now owns 57,999,184 shares of the oilfield services company’s stock valued at $2,350,708,000 after acquiring an additional 313,663 shares during the period. Sanders Capital LLC raised its stake in Halliburton by 24.8% in the 3rd quarter. Sanders Capital LLC now owns 19,776,422 shares of the oilfield services company’s stock valued at $883,006,000 after acquiring an additional 3,932,014 shares during the period. Franklin Resources Inc. raised its stake in Halliburton by 644.7% in the 3rd quarter. Franklin Resources Inc. now owns 14,927,010 shares of the oilfield services company’s stock valued at $604,991,000 after acquiring an additional 12,922,480 shares during the period. Macquarie Group Ltd. raised its stake in Halliburton by 3.8% in the 2nd quarter. Macquarie Group Ltd. now owns 14,579,725 shares of the oilfield services company’s stock valued at $656,962,000 after acquiring an additional 531,196 shares during the period. Finally, Northern Trust Corp raised its stake in Halliburton by 0.5% in the 2nd quarter. Northern Trust Corp now owns 10,303,279 shares of the oilfield services company’s stock valued at $464,265,000 after acquiring an additional 53,426 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Cleveland Research cut Halliburton from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. HSBC lowered their price objective on Halliburton to $51.00 and set a “buy” rating on the stock in a research report on Monday, October 8th. ValuEngine upgraded Halliburton from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group set a $51.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Thursday, September 6th. Finally, UBS Group set a $50.00 price objective on Halliburton and gave the stock a “buy” rating in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $51.36.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. Halliburton had a return on equity of 20.42% and a net margin of 0.70%. The company had revenue of $6.17 billion for the quarter, compared to analysts’ expectations of $6.10 billion. During the same quarter last year, the business earned $0.42 earnings per share. Halliburton’s revenue was up 13.4% on a year-over-year basis. As a group, equities analysts anticipate that Halliburton will post 1.86 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, December 5th. Halliburton’s payout ratio is currently 59.02%.
In related news, insider James S. Brown sold 15,989 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $40.53, for a total value of $648,034.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Anne L. Beaty sold 1,210 shares of the firm’s stock in a transaction dated Thursday, November 8th. The shares were sold at an average price of $36.23, for a total value of $43,838.30. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by company insiders.
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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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