LifePro Asset Management purchased a new position in shares of Halliburton (NYSE:HAL) during the 2nd quarter, Holdings Channel reports. The fund purchased 610,857 shares of the oilfield services company’s stock, valued at approximately $14,123,000. Halliburton makes up approximately 4.2% of LifePro Asset Management’s investment portfolio, making the stock its 9th largest holding.
A number of other large investors have also modified their holdings of HAL. Prentice Wealth Management LLC bought a new stake in Halliburton during the 1st quarter worth about $33,000. E Fund Management Co. Ltd. acquired a new position in Halliburton during the first quarter worth approximately $34,000. Alpha DNA Investment Management LLC raised its stake in Halliburton by 88.9% in the first quarter. Alpha DNA Investment Management LLC now owns 2,645 shares of the oilfield services company’s stock valued at $56,000 after buying an additional 1,245 shares during the period. Lazard Asset Management LLC bought a new stake in Halliburton in the first quarter valued at approximately $68,000. Finally, Eukles Asset Management raised its stake in Halliburton by 205.7% in the second quarter. Eukles Asset Management now owns 3,250 shares of the oilfield services company’s stock valued at $75,000 after buying an additional 2,187 shares during the period. 76.66% of the stock is currently owned by hedge funds and other institutional investors.
HAL has been the topic of several research analyst reports. COKER & PALMER upgraded Halliburton from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, August 30th. BNP Paribas upgraded Halliburton from an “underperform” rating to a “neutral” rating and set a $23.00 target price on the stock in a research note on Wednesday, July 21st. HSBC upgraded Halliburton from a “reduce” rating to a “hold” rating and increased their target price for the stock from $15.80 to $18.20 in a research note on Thursday, August 5th. Citigroup increased their target price on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. Finally, The Goldman Sachs Group upgraded Halliburton from a “neutral” rating to a “buy” rating and increased their target price for the stock from $24.53 to $26.00 in a research note on Wednesday, July 21st. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $23.75.
Halliburton (NYSE:HAL) last released its quarterly earnings data on Monday, July 19th. The oilfield services company reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.04. Halliburton had a return on equity of 12.64% and a net margin of 1.08%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the business posted $0.05 EPS. Halliburton’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts anticipate that Halliburton will post 1.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 22nd. Investors of record on Wednesday, September 1st will be issued a dividend of $0.045 per share. This represents a $0.18 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, August 31st. Halliburton’s dividend payout ratio (DPR) is 27.69%.
Halliburton Company Profile
Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.
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