Sumitomo Mitsui Trust Holdings Inc. Acquires 489,352 Shares of Halliburton (HAL)

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Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Halliburton (NYSE:HAL) by 14.7% during the 1st quarter, HoldingsChannel reports. The fund owned 3,817,969 shares of the oilfield services company’s stock after purchasing an additional 489,352 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Halliburton were worth $111,866,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SevenBridge Financial Group LLC lifted its position in shares of Halliburton by 387.5% during the 4th quarter. SevenBridge Financial Group LLC now owns 975 shares of the oilfield services company’s stock worth $26,000 after buying an additional 775 shares in the last quarter. Essex Savings Bank bought a new position in shares of Halliburton during the 4th quarter worth approximately $27,000. Paragon Capital Management LLC bought a new position in shares of Halliburton during the 1st quarter worth approximately $29,000. American Research & Management Co. purchased a new stake in shares of Halliburton during the 1st quarter worth approximately $29,000. Finally, Barnett & Company Inc. purchased a new stake in shares of Halliburton during the 1st quarter worth approximately $29,000. 81.68% of the stock is currently owned by institutional investors and hedge funds.

NYSE:HAL traded down $0.50 during trading hours on Wednesday, hitting $25.09. The stock had a trading volume of 112,439 shares, compared to its average volume of 9,801,047. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.22 and a quick ratio of 1.57. Halliburton has a one year low of $24.33 and a one year high of $54.71. The company has a market cap of $22.05 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.37 and a beta of 1.14.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, April 22nd. The oilfield services company reported $0.23 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.23. Halliburton had a net margin of 7.34% and a return on equity of 16.26%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the firm earned $0.41 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. Equities research analysts expect that Halliburton will post 1.38 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.87%. The ex-dividend date is Tuesday, June 4th. Halliburton’s payout ratio is 37.89%.

In other Halliburton news, CFO Lance Loeffler sold 5,926 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $28.35, for a total value of $168,002.10. Following the completion of the transaction, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by company insiders.

Several research analysts have commented on the stock. Zacks Investment Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Wednesday, February 13th. Seaport Global Securities set a $49.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. SunTrust Banks decreased their price target on shares of Halliburton to $39.00 and set an “average” rating for the company in a research note on Tuesday, April 23rd. Goldman Sachs Group assumed coverage on shares of Halliburton in a research note on Sunday, March 10th. They set a “buy” rating and a $42.00 price target for the company. Finally, Stifel Nicolaus set a $36.00 price target on shares of Halliburton and gave the stock a “buy” rating in a research note on Tuesday, January 22nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $44.71.

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About Halliburton

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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