Halliburton (NYSE:HAL) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of Halliburton (NYSE:HAL) by 3.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,728,186 shares of the oilfield services company’s stock after selling 120,490 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Halliburton were worth $48,392,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of HAL. Quadrant Capital Group LLC grew its position in Halliburton by 292.5% during the fourth quarter. Quadrant Capital Group LLC now owns 10,632 shares of the oilfield services company’s stock worth $242,000 after buying an additional 7,923 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Halliburton by 2.6% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 56,861 shares of the oilfield services company’s stock worth $1,389,000 after buying an additional 1,448 shares during the period. Pearl River Capital LLC acquired a new position in Halliburton during the fourth quarter worth about $224,000. State of Alaska Department of Revenue grew its position in Halliburton by 4.8% during the first quarter. State of Alaska Department of Revenue now owns 151,179 shares of the oilfield services company’s stock worth $1,035,000 after buying an additional 6,916 shares during the period. Finally, Boltwood Capital Management acquired a new position in Halliburton during the first quarter worth about $95,000. Institutional investors own 74.53% of the company’s stock.

NYSE:HAL opened at $14.33 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The company has a market cap of $12.57 billion, a P/E ratio of 14.05, a P/E/G ratio of 4.05 and a beta of 2.55. Halliburton has a fifty-two week low of $4.25 and a fifty-two week high of $25.47. The firm’s 50 day moving average is $13.02 and its two-hundred day moving average is $13.61.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 20th. The oilfield services company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.16. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.35 billion. Halliburton had a negative net margin of 21.35% and a positive return on equity of 12.02%. Halliburton’s revenue was down 46.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Research analysts forecast that Halliburton will post 0.54 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. HSBC upped their target price on shares of Halliburton from $9.50 to $13.70 and gave the stock a “hold” rating in a research report on Wednesday, July 22nd. Royal Bank of Canada upped their price target on shares of Halliburton from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, July 21st. Raymond James upped their price target on shares of Halliburton from $15.00 to $18.00 and gave the company a “strong-buy” rating in a report on Tuesday, July 21st. Citigroup upped their price target on shares of Halliburton from $7.50 to $12.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, Zacks Investment Research raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Tuesday, June 2nd. One research analyst has rated the stock with a sell rating, nineteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $13.60.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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