Kentucky Retirement Systems Insurance Trust Fund Sells 2,417 Shares of Halliburton (NYSE:HAL)

Kentucky Retirement Systems Insurance Trust Fund reduced its holdings in Halliburton (NYSE:HAL) by 8.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,138 shares of the oilfield services company’s stock after selling 2,417 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Halliburton were worth $759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TIAA Trust National Association bought a new stake in Halliburton during the first quarter worth about $202,000. Edgestream Partners L.P. raised its stake in shares of Halliburton by 138.4% during the 1st quarter. Edgestream Partners L.P. now owns 22,485 shares of the oilfield services company’s stock worth $886,000 after purchasing an additional 13,055 shares in the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Halliburton by 346.3% in the 1st quarter. UniSuper Management Pty Ltd now owns 37,051 shares of the oilfield services company’s stock valued at $1,461,000 after buying an additional 28,749 shares during the last quarter. Lake Street Advisors Group LLC grew its stake in shares of Halliburton by 18.7% in the first quarter. Lake Street Advisors Group LLC now owns 12,249 shares of the oilfield services company’s stock valued at $483,000 after buying an additional 1,931 shares in the last quarter. Finally, Pitcairn Co. increased its holdings in Halliburton by 2.3% during the first quarter. Pitcairn Co. now owns 18,118 shares of the oilfield services company’s stock worth $714,000 after buying an additional 406 shares during the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Price Performance

Shares of NYSE HAL opened at $30.45 on Tuesday. The stock has a market capitalization of $26.75 billion, a PE ratio of 10.61, a P/E/G ratio of 3.64 and a beta of 1.89. Halliburton has a fifty-two week low of $27.26 and a fifty-two week high of $41.56. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. The business has a fifty day moving average price of $29.18 and a two-hundred day moving average price of $32.12.

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

Analyst Upgrades and Downgrades

HAL has been the subject of a number of recent analyst reports. Piper Sandler cut their price target on shares of Halliburton from $46.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. TD Cowen reduced their price target on Halliburton from $47.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Bank of America dropped their price objective on Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Susquehanna decreased their target price on Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a report on Friday, November 8th. Finally, Wells Fargo & Company cut their price target on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.74.

Halliburton Company 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.