Today, Retirement Systems of Alabama Reduces Stake in Halliburton Co. (HAL)

Today, Retirement Systems of Alabama Reduces Stake in Halliburton Co. (HAL)
Retirement Systems of Alabama decreased its position in Halliburton Co. (NYSE:HAL) by 0.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 435,519 shares of the oilfield services company’s stock after selling 2,543 shares during the period. Retirement Systems of Alabama owned approximately 0.05% of Halliburton worth $19,546,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of HAL. Manchester Capital Management LLC boosted its stake in Halliburton by 0.4% in the second quarter. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company’s stock worth $107,000 after buying an additional 9 shares during the last quarter. Point View Wealth Management Inc. boosted its stake in Halliburton by 0.6% in the second quarter. Point View Wealth Management Inc. now owns 6,254 shares of the oilfield services company’s stock worth $283,000 after buying an additional 39 shares during the last quarter. Advisory Services Network LLC boosted its stake in Halliburton by 0.4% in the third quarter. Advisory Services Network LLC now owns 11,662 shares of the oilfield services company’s stock worth $523,000 after buying an additional 46 shares during the last quarter. Alpha Windward LLC boosted its stake in Halliburton by 1.3% in the third quarter. Alpha Windward LLC now owns 3,655 shares of the oilfield services company’s stock worth $164,000 after buying an additional 46 shares during the last quarter. Finally, Integrated Wealth Management boosted its stake in Halliburton by 1.1% in the third quarter. Integrated Wealth Management now owns 4,840 shares of the oilfield services company’s stock worth $217,000 after buying an additional 51 shares during the last quarter. 80.34% of the stock is owned by institutional investors and hedge funds.

Halliburton Co. (NYSE:HAL) traded up 0.08% during trading on Friday, hitting $49.51. The company had a trading volume of 2,736,261 shares. The stock’s market capitalization is $42.80 billion. The company’s 50 day moving average price is $47.64 and its 200-day moving average price is $44.44. Halliburton Co. has a 1-year low of $27.64 and a 1-year high of $50.49.

Halliburton (NYSE:HAL) last announced its earnings results on Wednesday, October 19th. The oilfield services company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. Halliburton had a positive return on equity of 1.82% and a negative net margin of 33.29%. The company’s quarterly revenue was down 31.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.31 EPS. On average, analysts expect that Halliburton Co. will post ($0.05) EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 28th. Shareholders of record on Wednesday, December 7th will be paid a $0.18 dividend. The ex-dividend date is Monday, December 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.46%. Halliburton’s dividend payout ratio is currently -10.98%.

A number of equities analysts have weighed in on the company. Vetr downgraded Halliburton from a “buy” rating to a “hold” rating and set a $42.96 price target for the company. in a research report on Tuesday, September 6th. Cowen and Company upped their price target on Halliburton from $40.00 to $45.00 and gave the stock a “market perform” rating in a research report on Thursday, October 20th. Citigroup Inc. reaffirmed a “buy” rating on shares of Halliburton in a research report on Wednesday, August 3rd. Loop Capital reaffirmed a “buy” rating and set a $53.00 price target on shares of Halliburton in a research report on Thursday, October 20th. Finally, DA Davidson reaffirmed a “buy” rating and set a $57.00 price target (up previously from $54.00) on shares of Halliburton in a research report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.81.

In other Halliburton news, insider James S. Brown sold 28,439 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Jeffrey Allen Miller sold 55,299 shares of the company’s stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $50.00, for a total value of $2,764,950.00. Following the completion of the transaction, the president now owns 302,261 shares in the company, valued at $15,113,050. The disclosure for this sale can be found here. 0.46% of the stock is owned by company insiders.

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