44,770 Halliburton Company $HAL Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in Halliburton Company (NYSE:HAL) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 1,925,643 shares of the oilfield services company’s stock after selling 44,770 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Halliburton were worth $61,235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HAL. BlackRock Inc. bought a new stake in shares of Halliburton during the 2nd quarter valued at $2,812,327,000. State Street Corp lifted its stake in shares of Halliburton by 4.5% during the 2nd quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company’s stock valued at $1,930,752,000 after buying an additional 2,463,137 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Halliburton during the 2nd quarter valued at $345,941,000. Bank of New York Mellon Corp bought a new position in Halliburton in the 2nd quarter worth $337,486,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Halliburton by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company’s stock worth $370,556,000 after buying an additional 367,701 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton introduced Agile Asset Management, an AI-powered cloud solution that lets oil and gas companies compare development plans and investment scenarios across subsurface, well, facility, and economic workflows. The launch expands its digital portfolio, though the announcement did not quantify expected revenue or earnings impact. Halliburton Introduces Agile Asset Management to Accelerate Capital Investment Decisions
• Positive Sentiment: Halliburton acquired Keystone AS to strengthen its digital well-construction capabilities, supporting its broader push to expand technology-based services. Halliburton acquires Keystone AS
• Neutral Sentiment: Questions about financing and drilling capacity have emerged around a proposed large Venezuela oil investment. The uncertainty could affect expectations for future industry activity, but the report does not identify a direct impact on Halliburton. Questions Mount Over Venezuela’s Biggest Oil Deal
• Negative Sentiment: A report said Halliburton’s winning streak ended as investors took profits following the post-Q3 advance. This points to near-term selling pressure rather than a newly reported deterioration in the company’s results. Halliburton ends winning streak post-Q3 as profit-taking hits shares

Halliburton Trading Down 1.5%

Shares of HAL opened at $34.08 on Wednesday. The company’s fifty day moving average is $34.24 and its 200 day moving average is $35.76. Halliburton Company has a fifty-two week low of $24.92 and a fifty-two week high of $43.59. The stock has a market capitalization of $28.19 billion, a PE ratio of 14.48, a P/E/G ratio of 2.00 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.48 and a current ratio of 2.02.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, October 20th. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Halliburton had a net margin of 8.90% and a return on equity of 18.36%. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.58 billion. During the same quarter in the prior year, the firm earned $0.58 earnings per share. Halliburton’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that Halliburton Company will post 2.33 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were issued a $0.17 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. Halliburton’s payout ratio is 28.45%.

Insider Buying and Selling at Halliburton

In other news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total transaction of $1,844,751.48. Following the sale, the chief operating officer directly owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Morgan Stanley lowered their price objective on Halliburton from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 22nd. UBS Group dropped their price objective on Halliburton from $42.00 to $41.00 and set a “neutral” rating for the company in a research note on Thursday, October 22nd. BMO Capital Markets set a $37.00 price objective on Halliburton in a research note on Wednesday, July 22nd. Finally, Freedom Broker upgraded Halliburton from a “hold” rating to a “buy” rating and increased their target price for the stock from $37.00 to $40.00 in a research report on Thursday, October 22nd. Eighteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.86.

Halliburton Profile

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.