Oceanic Investment Management Ltd Exits Position in Halliburton Company (HAL)

Halliburton Company (HAL) : Oceanic Investment Management Ltd has sold out all of its stake in Halliburton Company during the most recent quarter, according to the disclosure filed by the company on Aug 3, 2016 with the SEC. The investment management company has sold out 1,020,600 shares of Halliburton Company which is valued at $43,824,564.

Other Hedge Funds, Including , Sg Americas Securities reduced its stake in HAL by selling 1,825,307 shares or 74.94% in the most recent quarter. The Hedge Fund company now holds 610,262 shares of HAL which is valued at $26,204,650. Halliburton Company makes up approx 0.20% of Sg Americas Securities’s portfolio.Vicus Capital reduced its stake in HAL by selling 2,363 shares or 3.73% in the most recent quarter. The Hedge Fund company now holds 60,904 shares of HAL which is valued at $2,615,218. Halliburton Company makes up approx 0.63% of Vicus Capital’s portfolio.True Private Wealth Advisors reduced its stake in HAL by selling 1 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 9,459 shares of HAL which is valued at $406,169. Halliburton Company makes up approx 0.13% of True Private Wealth Advisors’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) boosted its stake in HAL in the latest quarter, The investment management firm added 176,412 additional shares and now holds a total of 357,973 shares of Halliburton Company which is valued at $15,371,361. Halliburton Company makes up approx 0.20% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.

Halliburton Company opened for trading at $43.98 and hit $45.05 on the upside on Monday, eventually ending the session at $44.26, with a gain of 1.26% or 0.55 points. The heightened volatility saw the trading volume jump to 66,06,026 shares. Company has a market cap of $38,112 M.

On the company’s financial health, Halliburton Company reported $-0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $-0.19. The company had revenue of $3835.00 million for the quarter, compared to analysts expectations of $3760.48 million. The company’s revenue was down -35.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.44 EPS.

Investors should note that on Jul 14, 2016, Halliburton Company announced a cash dividend of $0.1800. The company’s management has announced Sep 2, 2016 as the ex-dividend date and fixed the record date on Sep 7, 2016. The payable date has been fixed on Sep 28, 2016.

Many Wall Street Analysts have commented on Halliburton Company. Company shares were Reiterated by FBR Capital on Jul 21, 2016 to “Outperform”, Firm has raised the Price Target to $ 53 from a previous price target of $49 .Halliburton Company was Downgraded by Societe Generale to ” Hold” on Jul 19, 2016. Company shares were Reiterated by KeyBanc Capital Mkts on Jun 21, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $45 .

Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates operate under two divisions which form the basis for its two operating segments: the Completion and Production segment and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing stimulation intervention pressure control specialty chemicals artificial lift and completion products and services. Production Enhancement services include stimulation services and sand control services. The Company’s Drilling and Evaluation segment provides field and reservoir modeling drilling evaluation and precise wellbore placement solutions. The Company conducts its business in approximately 80 countries.

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