Sumitomo Mitsui Trust Group Inc. Grows Position in Halliburton (NYSE:HAL)

Sumitomo Mitsui Trust Group Inc. grew its stake in Halliburton (NYSE:HAL) by 0.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,176,683 shares of the oilfield services company’s stock after buying an additional 3,675 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Halliburton were worth $63,233,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HAL. Bruce G. Allen Investments LLC increased its holdings in Halliburton by 274.9% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 1,121 shares of the oilfield services company’s stock worth $38,000 after acquiring an additional 822 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Halliburton in the first quarter worth approximately $46,000. Country Trust Bank purchased a new stake in shares of Halliburton in the third quarter worth $36,000. Beacon Capital Management LLC raised its position in shares of Halliburton by 28.8% during the 1st quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock valued at $54,000 after purchasing an additional 309 shares during the period. Finally, ORG Wealth Partners LLC purchased a new position in shares of Halliburton during the 3rd quarter valued at $44,000. Institutional investors own 85.23% of the company’s stock.

Halliburton Stock Performance

NYSE HAL opened at $30.13 on Friday. The business’s 50 day moving average price is $29.10 and its 200-day moving average price is $32.31. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The company has a market cap of $26.47 billion, a P/E ratio of 10.50, a P/E/G ratio of 3.70 and a beta of 1.89. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.62 and a current ratio of 2.21.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a net margin of 11.04% and a return on equity of 28.33%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.79 EPS. Sell-side analysts predict that Halliburton will post 3.02 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Piper Sandler cut their price target on Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Royal Bank of Canada downgraded Halliburton from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $44.00 to $37.00 in a research note on Friday, September 13th. Morgan Stanley lowered their price target on Halliburton from $45.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets cut their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Finally, Johnson Rice upgraded shares of Halliburton to a “moderate buy” rating in a research report on Friday, July 19th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $40.79.

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.