Halliburton Company (HAL) Stake Lifted by Edge Wealth Management LLC
Edge Wealth Management LLC grew its holdings in Halliburton Company (NYSE:HAL) by 3,006.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 44,572 shares of the oilfield services company’s stock after acquiring an additional 43,137 shares during the quarter. Edge Wealth Management LLC’s holdings in Halliburton were worth $2,176,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in HAL. YorkBridge Wealth Partners LLC increased its position in Halliburton by 243.3% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 3,165 shares of the oilfield services company’s stock valued at $146,000 after buying an additional 2,243 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in Halliburton in the 3rd quarter valued at about $184,000. Banced Corp bought a new stake in Halliburton in the 4th quarter valued at about $211,000. Neville Rodie & Shaw Inc. bought a new stake in Halliburton in the 3rd quarter valued at about $202,000. Finally, Krilogy Financial LLC increased its position in Halliburton by 35.9% in the 2nd quarter. Krilogy Financial LLC now owns 4,588 shares of the oilfield services company’s stock valued at $196,000 after buying an additional 1,212 shares in the last quarter. 79.88% of the stock is currently owned by institutional investors.
A number of brokerages recently commented on HAL. Loop Capital reaffirmed a “buy” rating and issued a $57.00 target price (down from $62.00) on shares of Halliburton in a research report on Tuesday, October 24th. Scotiabank reaffirmed a “buy” rating and issued a $52.00 target price on shares of Halliburton in a research report on Wednesday, October 25th. Citigroup decreased their target price on Halliburton from $54.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Cowen reaffirmed a “market perform” rating and issued a $50.00 target price on shares of Halliburton in a research report on Tuesday, October 24th. Finally, Jefferies Group set a $57.00 target price on Halliburton and gave the company a “buy” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $57.21.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. The firm had revenue of $5.44 billion during the quarter, compared to analyst estimates of $5.35 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. sell-side analysts predict that Halliburton Company will post 1.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Wednesday, December 6th. Halliburton’s dividend payout ratio is currently 300.00%.
In other news, EVP Eric Carre sold 28,024 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $51.71, for a total value of $1,449,121.04. Following the completion of the transaction, the executive vice president now directly owns 173,767 shares of the company’s stock, valued at $8,985,491.57. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Anne L. Beaty sold 2,937 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $51.57, for a total value of $151,461.09. Following the completion of the transaction, the vice president now directly owns 60,839 shares of the company’s stock, valued at $3,137,467.23. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 141,612 shares of company stock valued at $6,556,433. 0.46% of the stock is currently owned by corporate 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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