Sumitomo Mitsui Asset Management Company LTD Sells 3,841 Shares of Halliburton Company (HAL)
Sumitomo Mitsui Asset Management Company LTD cut its stake in shares of Halliburton Company (NYSE:HAL) by 5.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,485 shares of the oilfield services company’s stock after selling 3,841 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Halliburton were worth $3,014,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in HAL. Sumitomo Mitsui Financial Group Inc. acquired a new position in shares of Halliburton in the 1st quarter valued at about $100,000. Perigon Wealth Management LLC lifted its stake in shares of Halliburton by 0.8% in the 1st quarter. Perigon Wealth Management LLC now owns 2,049 shares of the oilfield services company’s stock valued at $101,000 after purchasing an additional 17 shares during the period. Ledyard National Bank lifted its stake in shares of Halliburton by 6.5% in the 2nd quarter. Ledyard National Bank now owns 2,469 shares of the oilfield services company’s stock valued at $106,000 after purchasing an additional 150 shares during the period. Bbva Compass Bancshares Inc. lifted its stake in shares of Halliburton by 5.0% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 2,701 shares of the oilfield services company’s stock valued at $115,000 after purchasing an additional 128 shares during the period. Finally, Independent Portfolio Consultants Inc. lifted its stake in shares of Halliburton by 87.6% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock valued at $116,000 after purchasing an additional 1,266 shares during the period. 79.36% of the stock is currently owned by institutional investors.
HAL has been the topic of a number of recent analyst reports. BidaskClub raised Halliburton from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 8th. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Halliburton in a research note on Monday, July 10th. Zacks Investment Research downgraded Halliburton from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $52.00 price target on shares of Halliburton in a research note on Wednesday, July 12th. Finally, BMO Capital Markets dropped their price target on Halliburton from $65.00 to $51.00 and set an “outperform” rating on the stock in a research note on Friday, July 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Halliburton has an average rating of “Buy” and a consensus target price of $57.55.
Halliburton (NYSE:HAL) last posted its earnings results on Monday, October 23rd. The oilfield services company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.04. Halliburton had a net margin of 1.13% and a return on equity of 6.93%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm’s revenue was up 42.0% on a year-over-year basis.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $39.66, for a total transaction of $1,705,380.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the sale, the chairman now directly owns 490,143 shares of the company’s stock, valued at approximately $21,419,249.10. The disclosure for this sale can be found here. Insiders own 0.46% of the company’s stock.
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.
Want to see what other hedge funds are holding HAL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Halliburton Company (NYSE:HAL).
Receive News & Ratings for Halliburton Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton Company and related companies with Analyst Ratings Network's FREE daily email newsletter.