Cito Capital Group LLC decreased its stake in shares of Halliburton (NYSE:HAL) by 35.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,000 shares of the oilfield services company’s stock after selling 6,000 shares during the period. Cito Capital Group LLC’s holdings in Halliburton were worth $238,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sumitomo Mitsui Financial Group Inc. acquired a new position in Halliburton in the third quarter valued at $26,000. Koshinski Asset Management Inc. purchased a new position in shares of Halliburton during the 3rd quarter worth about $34,000. Castleview Partners LLC purchased a new position in shares of Halliburton during the 2nd quarter worth about $35,000. Alpha Paradigm Partners LLC increased its position in Halliburton by 433.1% during the 2nd quarter. Alpha Paradigm Partners LLC now owns 1,546 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 1,256 shares in the last quarter. Finally, Ellis Investment Partners LLC increased its position in Halliburton by 25.7% during the 3rd quarter. Ellis Investment Partners LLC now owns 1,978 shares of the oilfield services company’s stock worth $42,000 after purchasing an additional 405 shares in the last quarter. 75.74% of the stock is owned by institutional investors.
Several analysts have issued reports on the stock. Argus raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, October 20th. Royal Bank of Canada raised their price objective on Halliburton from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 20th. They noted that the move was a valuation call. Morgan Stanley upgraded Halliburton from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $28.00 to $30.00 in a research note on Tuesday, January 4th. COKER & PALMER upgraded Halliburton from a “sector perform” rating to an “outperform” rating and set a $24.00 target price on the stock in a research note on Tuesday, October 12th. Finally, JPMorgan Chase & Co. upgraded Halliburton from a “neutral” rating to an “overweight” rating and raised their target price for the company from $30.00 to $32.00 in a research note on Thursday. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $26.09.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, October 18th. The oilfield services company reported $0.28 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.28. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.91 billion. Halliburton had a net margin of 2.79% and a return on equity of 15.13%. The company’s revenue was up 29.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 earnings per share. Sell-side analysts expect that Halliburton will post 1.07 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 22nd. Stockholders of record on Thursday, December 9th were given a $0.045 dividend. This represents a $0.18 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Wednesday, December 8th. Halliburton’s payout ratio is presently 40.91%.
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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