Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Halliburton (NYSE:HAL)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Halliburton (NYSE:HAL) by 1.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 105,399 shares of the oilfield services company’s stock after acquiring an additional 1,815 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Halliburton were worth $2,866,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Continuum Advisory LLC boosted its holdings in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after acquiring an additional 698 shares during the last quarter. Modus Advisors LLC bought a new position in shares of Halliburton during the fourth quarter valued at about $38,000. ORG Wealth Partners LLC purchased a new position in Halliburton during the third quarter worth about $44,000. Venturi Wealth Management LLC grew its position in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock worth $47,000 after purchasing an additional 412 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Halliburton by 28.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock valued at $51,000 after buying an additional 393 shares during the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HAL. Morgan Stanley cut their target price on Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Susquehanna reduced their price objective on Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 target price on shares of Halliburton in a research note on Thursday, January 23rd. Benchmark reduced their price target on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, UBS Group lowered shares of Halliburton from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $36.00 to $34.00 in a research report on Monday, December 9th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Stock Performance

NYSE:HAL opened at $25.17 on Monday. Halliburton has a 52-week low of $25.16 and a 52-week high of $41.56. The business’s fifty day moving average is $27.74 and its 200 day moving average is $29.38. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.54 and a current ratio of 2.05. The firm has a market cap of $22.11 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 3.53 and a beta of 1.89.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. Research analysts predict that Halliburton will post 2.67 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.70%. The ex-dividend date was Wednesday, December 4th. Halliburton’s dividend payout ratio is presently 24.03%.

Halliburton Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.