BB&T Corp increased its stake in Halliburton Company (NYSE:HAL) by 56.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,358 shares of the oilfield services company’s stock after buying an additional 47,137 shares during the period. BB&T Corp’s holdings in Halliburton were worth $5,568,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Halliburton by 4.0% in the first quarter. Vanguard Group Inc. now owns 58,503,306 shares of the oilfield services company’s stock worth $2,878,947,000 after buying an additional 2,242,976 shares in the last quarter. BlackRock Inc. increased its position in shares of Halliburton by 2,760.4% in the first quarter. BlackRock Inc. now owns 51,835,128 shares of the oilfield services company’s stock worth $2,550,805,000 after buying an additional 50,022,982 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Halliburton by 1.1% in the first quarter. Wellington Management Group LLP now owns 20,413,182 shares of the oilfield services company’s stock worth $1,004,532,000 after buying an additional 227,704 shares in the last quarter. FMR LLC increased its position in shares of Halliburton by 11.0% in the first quarter. FMR LLC now owns 15,102,445 shares of the oilfield services company’s stock worth $743,191,000 after buying an additional 1,496,685 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Halliburton by 8.3% in the first quarter. Geode Capital Management LLC now owns 8,273,561 shares of the oilfield services company’s stock worth $406,548,000 after buying an additional 635,993 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.
Shares of Halliburton Company (HAL) opened at 38.99 on Friday. The company’s market capitalization is $33.98 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 of $42.27 and a 200-day moving average of $47.14.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.14) earnings per share. Equities research analysts forecast that Halliburton Company will post $1.12 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio (DPR) is -423.50%.
A number of research firms have recently commented on HAL. Cowen and Company cut their price target on shares of Halliburton from $59.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday, April 26th. Jefferies Group LLC set a $69.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Monday, April 24th. BMO Capital Markets set a $65.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Monday, April 24th. Deutsche Bank AG cut their price target on shares of Halliburton from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, April 25th. Finally, Seaport Global Securities upgraded shares of Halliburton from a “neutral” rating to a “buy” rating and increased their price target for the company from $43.00 to $50.00 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $59.60.
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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