Commerce Bank Sells 3,880 Shares of Halliburton Company (HAL)
Commerce Bank lessened its stake in shares of Halliburton Company (NYSE:HAL) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 25,143 shares of the oilfield services company’s stock after selling 3,880 shares during the period. Commerce Bank’s holdings in Halliburton were worth $1,158,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Perigon Wealth Management LLC raised its holdings in Halliburton by 0.8% during the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares during the period. Comerica Securities Inc. raised its holdings in Halliburton by 0.3% during the 2nd quarter. Comerica Securities Inc. now owns 6,606 shares of the oilfield services company’s stock valued at $282,000 after buying an additional 18 shares during the period. Appleton Partners Inc. MA raised its holdings in Halliburton by 0.4% during the 2nd quarter. Appleton Partners Inc. MA now owns 5,158 shares of the oilfield services company’s stock valued at $220,000 after buying an additional 21 shares during the period. Hedeker Wealth LLC raised its holdings in Halliburton by 0.3% during the 2nd quarter. Hedeker Wealth LLC now owns 19,541 shares of the oilfield services company’s stock valued at $834,000 after buying an additional 56 shares during the period. Finally, 440 Investment Group LLC raised its holdings in Halliburton by 0.3% during the 2nd quarter. 440 Investment Group LLC now owns 20,074 shares of the oilfield services company’s stock valued at $857,000 after buying an additional 60 shares during the period. Institutional investors own 78.61% of the company’s stock.
Several brokerages have commented on HAL. Piper Jaffray Companies set a $53.00 price objective on Halliburton and gave the company a “buy” rating in a research report on Monday, October 30th. FBR & Co cut their price objective on Halliburton from $61.00 to $55.00 and set a “buy” rating on the stock in a research report on Tuesday, October 24th. TheStreet raised Halliburton from a “d+” rating to a “c-” rating in a research report on Friday, September 29th. Deutsche Bank AG began coverage on Halliburton in a research report on Tuesday, October 10th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Cowen and Company set a $50.00 price objective on Halliburton and gave the company a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Halliburton presently has an average rating of “Buy” and a consensus price target of $57.55.
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In other news, Chairman David J. Lesar sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.70, for a total value of $2,185,000.00. Following the completion of the transaction, the chairman now directly owns 490,143 shares in the company, valued at $21,419,249.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lawrence J. Pope sold 43,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Halliburton Company (NYSE HAL) traded down $0.13 during trading on Monday, reaching $41.64. The company’s stock had a trading volume of 163,837 shares, compared to its average volume of 8,767,691. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The stock has a market capitalization of $36,450.00, a PE ratio of 57.22, a PEG ratio of 4.51 and a beta of 1.05.
Halliburton (NYSE:HAL) last released its quarterly earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. Halliburton had a return on equity of 16.15% and a net margin of 6.63%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue was up 42.0% compared to the same quarter last year. equities research analysts predict that Halliburton Company will post 1.16 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 7th will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, December 6th. Halliburton’s payout ratio is 300.00%.
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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