Emmett Investment Management LP Makes New $4.38 Million Investment in Halliburton Company $HAL

Emmett Investment Management LP bought a new position in Halliburton Company (NYSE:HAL) in the 1st quarter, Holdings Channel reports. The firm bought 115,150 shares of the oilfield services company’s stock, valued at approximately $4,376,000. Halliburton makes up 3.3% of Emmett Investment Management LP’s investment portfolio, making the stock its 16th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Halliburton by 82,596.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after buying an additional 29,735,387 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after buying an additional 19,190,520 shares during the last quarter. Norges Bank acquired a new stake in shares of Halliburton during the fourth quarter worth $169,304,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Halliburton by 12,413.2% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,163,259 shares of the oilfield services company’s stock worth $162,325,000 after buying an additional 4,129,988 shares during the period. Finally, Canoe Financial LP purchased a new stake in shares of Halliburton during the first quarter valued at $158,525,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 8,655 shares of the business’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $42.00, for a total value of $363,510.00. Following the completion of the transaction, the vice president directly owned 72,976 shares in the company, valued at $3,064,992. The trade was a 10.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $35.89, for a total transaction of $889,282.42. Following the sale, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 258,255 shares of company stock worth $10,550,535. Insiders own 0.57% of the company’s stock.

Halliburton Stock Performance

Shares of HAL stock opened at $32.14 on Tuesday. Halliburton Company has a 52-week low of $20.39 and a 52-week high of $43.59. The company has a quick ratio of 1.50, a current ratio of 2.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $26.85 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 1.54 and a beta of 0.71. The business has a 50-day simple moving average of $36.73 and a 200-day simple moving average of $36.49.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.54 by $0.01. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.Halliburton’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period last year, the company earned $0.55 earnings per share. On average, equities analysts expect that Halliburton Company will post 2.35 EPS for the current year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, June 3rd. Halliburton’s payout ratio is 35.60%.

Analyst Upgrades and Downgrades

HAL has been the topic of several research reports. HSBC upped their target price on Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Evercore reiterated an “outperform” rating and set a $43.00 price target on shares of Halliburton in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Halliburton from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Freedom Capital upgraded Halliburton from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, UBS Group decreased their target price on Halliburton from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Monday. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.10.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.