First Dallas Securities Inc. cut its holdings in Halliburton (NYSE:HAL) by 24.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,296 shares of the oilfield services company’s stock after selling 2,327 shares during the period. First Dallas Securities Inc.’s holdings in Halliburton were worth $214,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Halliburton by 1.7% during the first quarter. Nordea Investment Management AB now owns 323,676 shares of the oilfield services company’s stock worth $9,485,000 after acquiring an additional 5,338 shares in the last quarter. Allstate Corp acquired a new position in shares of Halliburton in the first quarter valued at approximately $674,000. Cerebellum GP LLC acquired a new stake in Halliburton during the 1st quarter valued at approximately $339,000. Rehmann Capital Advisory Group increased its position in Halliburton by 49.9% during the 1st quarter. Rehmann Capital Advisory Group now owns 11,964 shares of the oilfield services company’s stock valued at $351,000 after purchasing an additional 3,984 shares during the period. Finally, Marshall Wace North America L.P. acquired a new stake in Halliburton during the 1st quarter valued at approximately $7,507,000. Institutional investors and hedge funds own 77.37% of the company’s stock.
A number of equities analysts recently issued reports on HAL shares. Edward Jones cut Halliburton from a “buy” rating to a “hold” rating in a report on Monday, June 10th. ValuEngine lowered Halliburton from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 1st. UBS Group set a $36.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Seaport Global Securities set a $49.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley set a $40.00 target price on Halliburton and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.71.
Shares of HAL opened at $21.38 on Monday. Halliburton has a one year low of $20.98 and a one year high of $47.59. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 1.07. The stock has a market cap of $18.69 billion, a price-to-earnings ratio of 11.25, a PEG ratio of 1.16 and a beta of 1.31.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, April 22nd. The oilfield services company reported $0.23 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Halliburton had a return on equity of 16.26% and a net margin of 7.34%. The firm had revenue of $5.74 billion during the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the business earned $0.41 EPS. Halliburton’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, equities research analysts expect that Halliburton will post 1.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Wednesday, June 5th will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.37%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.
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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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