Cubist Systematic Strategies LLC Trims Stake in Halliburton Company (HAL)
Cubist Systematic Strategies LLC trimmed its position in Halliburton Company (NYSE:HAL) by 7.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,463 shares of the oilfield services company’s stock after selling 8,473 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Halliburton were worth $4,462,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Financial Group Inc. purchased a new position in Halliburton in the first quarter worth about $100,000. Perigon Wealth Management LLC grew its position in 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 acquiring an additional 17 shares in the last quarter. Ledyard National Bank grew its position in 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 acquiring an additional 150 shares in the last quarter. Bbva Compass Bancshares Inc. grew its position in 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 acquiring an additional 128 shares in the last quarter. Finally, Independent Portfolio Consultants Inc. grew its position in 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 acquiring an additional 1,266 shares in the last quarter. 79.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Halliburton Company (NYSE:HAL) traded down 0.75% during midday trading on Friday, hitting $44.75. 11,162,207 shares of the stock were exchanged. The company’s market cap is $39.00 billion. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78. The stock has a 50 day moving average price of $41.91 and a 200-day moving average price of $44.29.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same period last year, the business earned ($0.14) EPS. Halliburton’s revenue for the quarter was up 29.3% compared to the same quarter last year. On average, analysts predict that Halliburton Company will post $1.11 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.61%. Halliburton’s dividend payout ratio is currently -423.50%.
HAL has been the subject of several recent research reports. TheStreet upgraded Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Cowen and Company set a $50.00 price target on Halliburton and gave the stock a “hold” rating in a research report on Friday. Seaport Global Securities upgraded Halliburton from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $43.00 to $50.00 in a research report on Thursday, July 20th. BidaskClub lowered Halliburton from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 27th. Finally, FBR & Co dropped their price target on Halliburton from $70.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have issued 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 $57.99.
In related 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 transaction of $1,705,380.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.46% of the stock is owned by company insiders.
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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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