Sumitomo Mitsui Trust Holdings Inc. Has $111.24 Million Position in Halliburton Company (HAL)
Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Halliburton Company (NYSE:HAL) by 1.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,604,532 shares of the oilfield services company’s stock after buying an additional 27,065 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.30% of Halliburton worth $111,240,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui Financial Group Inc. acquired a new position in Halliburton during the first quarter valued at approximately $100,000. Perigon Wealth Management LLC raised its position in Halliburton by 0.8% in the first quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after buying an additional 17 shares during the period. Ledyard National Bank raised its position in Halliburton by 6.5% in the second quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after buying an additional 150 shares during the period. Bbva Compass Bancshares Inc. raised its position in Halliburton by 5.0% in the second quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after buying an additional 128 shares during the period. Finally, Independent Portfolio Consultants Inc. raised its position in Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after buying an additional 1,266 shares during the period. Institutional investors and hedge funds own 79.52% of the company’s stock.
Shares of Halliburton Company (NYSE:HAL) opened at 38.90 on Friday. Halliburton Company has a 52 week low of $38.18 and a 52 week high of $58.78. The stock’s market capitalization is $33.91 billion. The stock’s 50 day moving average is $41.19 and its 200 day moving average is $45.91.
Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.05. Halliburton had a negative net margin of 0.86% and a positive return on equity of 2.97%. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.86 billion. During the same quarter in the prior year, the business posted ($0.14) EPS. Halliburton’s quarterly revenue was up 29.3% on a year-over-year basis. Analysts anticipate that Halliburton Company will post $1.12 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. The ex-dividend date is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Halliburton’s dividend payout ratio (DPR) is -423.50%.
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Several equities analysts recently commented on HAL shares. UBS AG reissued a “buy” rating and issued a $70.00 target price on shares of Halliburton in a report on Monday, May 15th. Jefferies Group LLC reissued a “buy” rating and issued a $69.00 target price on shares of Halliburton in a report on Friday, May 26th. Credit Suisse Group set a $60.00 target price on Halliburton and gave the company a “buy” rating in a report on Monday, June 5th. Seaport Global Securities lowered Halliburton from a “buy” rating to a “neutral” rating and dropped their target price for the company from $63.00 to $43.00 in a report on Wednesday, June 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $60.00 target price (down previously from $67.00) on shares of Halliburton in a report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $59.13.
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.
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