Clinton Group Inc. Sells 159,751 Shares of Halliburton Company (HAL)
Clinton Group Inc. lowered its stake in shares of Halliburton Company (NYSE:HAL) by 82.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,305 shares of the oilfield services company’s stock after selling 159,751 shares during the quarter. Clinton Group Inc.’s holdings in Halliburton were worth $1,422,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in HAL. Pine River Capital Management L.P. raised its position in Halliburton by 21.2% in the 2nd quarter. Pine River Capital Management L.P. now owns 646,791 shares of the oilfield services company’s stock valued at $27,626,000 after buying an additional 113,329 shares during the last quarter. Tudor Investment Corp ET AL lifted its stake in Halliburton by 84.5% during the 2nd quarter. Tudor Investment Corp ET AL now owns 21,620 shares of the oilfield services company’s stock valued at $923,000 after acquiring an additional 9,905 shares in the last quarter. Balyasny Asset Management LLC lifted its stake in Halliburton by 7,314.7% during the 2nd quarter. Balyasny Asset Management LLC now owns 3,750,668 shares of the oilfield services company’s stock valued at $160,191,000 after acquiring an additional 3,700,084 shares in the last quarter. Doliver Capital Advisors LP bought a new position in Halliburton during the 2nd quarter valued at $256,000. Finally, Summit Financial Wealth Advisors LLC lifted its stake in Halliburton by 0.8% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 13,715 shares of the oilfield services company’s stock valued at $586,000 after acquiring an additional 115 shares in the last quarter. Institutional investors and hedge funds own 79.51% of the company’s stock.
In other news, EVP Lawrence J. Pope sold 43,000 shares of Halliburton 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.47% of the company’s stock.
A number of research firms recently weighed in on HAL. Royal Bank Of Canada set a $65.00 price target on shares of Halliburton and gave the company a “buy” rating in a research report on Saturday, June 24th. Credit Suisse Group set a $60.00 price objective on shares of Halliburton and gave the stock a “buy” rating in a research report on Saturday, July 1st. Zacks Investment Research downgraded shares of Halliburton from a “hold” rating to a “sell” rating in a research report on Monday. BidaskClub lowered shares of Halliburton from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine lowered shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $58.61.
Halliburton Company (HAL) traded up 0.56% during mid-day trading on Wednesday, hitting $45.18. 359,824 shares of the stock were exchanged. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The company has a 50-day moving average of $41.41 and a 200-day moving average of $44.32. The stock’s market capitalization is $39.38 billion.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. On average, equities analysts predict that Halliburton Company will post $1.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th were given a dividend of $0.18 per share. The ex-dividend date was Friday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.60%. Halliburton’s payout ratio is -423.50%.
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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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