Wedge Capital Management L L P NC Increases Stake in Halliburton Company (HAL)
Wedge Capital Management L L P NC boosted its position in Halliburton Company (NYSE:HAL) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,742 shares of the oilfield services company’s stock after buying an additional 30,568 shares during the period. Wedge Capital Management L L P NC’s holdings in Halliburton were worth $12,717,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Financial Group Inc. bought a new position in shares of Halliburton during the first quarter worth approximately $100,000. Perigon Wealth Management LLC boosted its position in shares of Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock worth $101,000 after buying an additional 17 shares during the period. Ledyard National Bank boosted its position in shares of Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock worth $106,000 after buying an additional 150 shares during the period. Bbva Compass Bancshares Inc. boosted its position in shares of Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock worth $115,000 after buying an additional 128 shares during the period. Finally, Independent Portfolio Consultants Inc. boosted its position in shares of Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company (HAL) opened at 39.01 on Friday. The company’s 50-day moving average price is $41.73 and its 200 day moving average price is $46.52. The firm’s market capitalization is $34.00 billion. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78.
Halliburton (NYSE:HAL) last released 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. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. Halliburton’s quarterly revenue was up 29.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. Analysts predict that Halliburton Company will post $1.12 EPS for the current 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 paid 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 yield of 1.85%. Halliburton’s dividend payout ratio (DPR) is -423.50%.
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A number of equities analysts have recently commented on the company. UBS AG reiterated a “buy” rating and issued a $70.00 target price on shares of Halliburton in a report on Monday, May 15th. Royal Bank Of Canada set a $65.00 target price on Halliburton and gave the stock a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group set a $60.00 target price on Halliburton and gave the stock a “buy” rating in a report on Saturday, July 1st. BidaskClub cut Halliburton from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, ValuEngine cut Halliburton from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. One 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 issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target 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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