Tocqueville Asset Management L.P. cut its holdings in Halliburton (NYSE:HAL) by 58.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,995 shares of the oilfield services company’s stock after selling 137,205 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Halliburton were worth $4,740,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Talara Capital Management LLC lifted its holdings in shares of Halliburton by 6.2% during the 4th quarter. Talara Capital Management LLC now owns 299,785 shares of the oilfield services company’s stock valued at $14,650,000 after buying an additional 17,508 shares during the period. Renaissance Technologies LLC bought a new position in shares of Halliburton during the 4th quarter valued at $53,708,000. General American Investors Co. Inc. lifted its holdings in shares of Halliburton by 9.5% during the 4th quarter. General American Investors Co. Inc. now owns 460,000 shares of the oilfield services company’s stock valued at $22,480,000 after buying an additional 40,000 shares during the period. TVR Capital Management LP bought a new position in shares of Halliburton during the 4th quarter valued at $14,179,000. Finally, Centenus Global Management LP bought a new position in shares of Halliburton during the 4th quarter valued at $489,000. 79.42% of the stock is currently owned by institutional investors and hedge funds.
In other Halliburton news, VP Anne L. Beaty sold 2,937 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $51.57, for a total value of $151,461.09. Following the completion of the sale, the vice president now owns 60,839 shares in the company, valued at approximately $3,137,467.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy Mckeon sold 4,583 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $54.95, for a total value of $251,835.85. The disclosure for this sale can be found here. Insiders sold a total of 125,922 shares of company stock valued at $6,706,509 in the last quarter. 0.46% of the stock is currently owned by company insiders.
Halliburton (NYSE:HAL) last issued its quarterly earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.07. Halliburton had a positive return on equity of 11.95% and a negative net margin of 2.25%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the prior year, the business posted $0.04 EPS. Halliburton’s revenue for the quarter was up 47.7% compared to the same quarter last year. equities analysts expect that Halliburton will post 2.55 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 28th. Shareholders of record on Wednesday, March 7th will be paid a $0.18 dividend. The ex-dividend date is Tuesday, March 6th. This represents a $0.72 dividend on an annualized basis and a yield of 1.53%. Halliburton’s payout ratio is presently -135.85%.
Several research firms have recently weighed in on HAL. Jefferies Group set a $65.00 price target on Halliburton and gave the company a “buy” rating in a report on Tuesday, January 23rd. Barclays set a $66.00 price target on Halliburton and gave the company a “buy” rating in a report on Tuesday, January 23rd. Cowen reissued a “hold” rating and set a $60.00 price target on shares of Halliburton in a report on Tuesday, January 23rd. B. Riley increased their price target on Halliburton from $55.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Loop Capital reissued a “buy” rating and set a $69.00 price target (up from $57.00) on shares of Halliburton in a report on Tuesday, January 23rd. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.09.
COPYRIGHT VIOLATION NOTICE: “Tocqueville Asset Management L.P. Has $4.74 Million Position in Halliburton (HAL)” was reported by Ticker Report and is owned by of Ticker Report. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.tickerreport.com/banking-finance/3253475/tocqueville-asset-management-l-p-has-4-74-million-position-in-halliburton-hal.html.
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.
Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton (NYSE:HAL).
Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.