Todd Asset Management LLC Cuts Stake in Halliburton Company (HAL)

Todd Asset Management LLC lessened its stake in shares of Halliburton Company (NYSE:HAL) by 4.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,105 shares of the oilfield services company’s stock after selling 7,464 shares during the quarter. Todd Asset Management LLC’s holdings in Halliburton were worth $7,223,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. lifted its position in shares of Halliburton by 7.3% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 56,248 shares of the oilfield services company’s stock worth $2,403,000 after buying an additional 3,834 shares during the last quarter. Nuance Investments LLC lifted its position in shares of Halliburton by 27.0% during the 2nd quarter. Nuance Investments LLC now owns 71,305 shares of the oilfield services company’s stock worth $3,045,000 after buying an additional 15,173 shares during the last quarter. Cipher Capital LP lifted its position in shares of Halliburton by 437.1% during the 2nd quarter. Cipher Capital LP now owns 81,127 shares of the oilfield services company’s stock worth $3,465,000 after buying an additional 66,022 shares during the last quarter. Swiss National Bank increased its holdings in shares of Halliburton by 3.4% in the 2nd quarter. Swiss National Bank now owns 3,167,697 shares of the oilfield services company’s stock valued at $135,292,000 after acquiring an additional 104,500 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in shares of Halliburton by 4.1% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,251 shares of the oilfield services company’s stock valued at $182,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 79.53% of the company’s stock.

In related news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.

Halliburton Company (NYSE HAL) traded up 0.31% during mid-day trading on Friday, reaching $42.31. 8,173,031 shares of the company were exchanged. The company’s market cap is $36.88 billion. Halliburton Company has a 12 month low of $38.18 and a 12 month high of $58.78. The stock’s 50-day moving average is $40.41 and its 200-day moving average is $45.08.

Halliburton (NYSE:HAL) last posted its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.86 billion. During the same period in the previous year, the company earned ($0.14) EPS. The company’s revenue for the quarter was up 29.3% on a year-over-year basis. Equities analysts expect that Halliburton Company will post $1.12 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a yield of 1.70%. Halliburton’s dividend payout ratio (DPR) is currently -423.50%.

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A number of brokerages have recently commented on HAL. J P Morgan Chase & Co cut their target price on shares of Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. Royal Bank Of Canada set a $65.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Saturday, June 24th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $55.00 target price (down from $60.00) on shares of Halliburton in a report on Tuesday, July 25th. ValuEngine raised shares of Halliburton from a “sell” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Zacks Investment Research cut shares of Halliburton from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. Halliburton currently has an average rating of “Buy” and an average target price of $58.61.

About Halliburton

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.

Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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