Delta Global Management LP Makes New Investment in Halliburton Company $HAL

Delta Global Management LP purchased a new stake in Halliburton Company (NYSE:HAL) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 110,619 shares of the oilfield services company’s stock, valued at approximately $2,721,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Halliburton by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 105,363,599 shares of the oilfield services company’s stock valued at $2,147,310,000 after acquiring an additional 1,617,696 shares during the period. Capital Research Global Investors grew its holdings in Halliburton by 81.8% in the third quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company’s stock worth $2,239,349,000 after purchasing an additional 40,969,139 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Halliburton by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 30,287,989 shares of the oilfield services company’s stock valued at $617,269,000 after purchasing an additional 346,218 shares in the last quarter. Sanders Capital LLC increased its stake in Halliburton by 9.4% in the third quarter. Sanders Capital LLC now owns 26,004,682 shares of the oilfield services company’s stock valued at $639,715,000 after purchasing an additional 2,238,983 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Halliburton by 0.4% during the second quarter. Geode Capital Management LLC now owns 22,342,963 shares of the oilfield services company’s stock valued at $453,461,000 after purchasing an additional 92,549 shares during the period. Institutional investors and hedge funds own 85.23% of the company’s stock.

Halliburton Price Performance

HAL stock opened at $33.70 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.51 and a current ratio of 2.04. The business has a 50-day simple moving average of $33.93 and a two-hundred day simple moving average of $28.50. The company has a market capitalization of $28.23 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 2.01 and a beta of 0.73. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $37.03.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts expect that Halliburton Company will post 2.64 EPS for the current fiscal year.

Halliburton Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Wednesday, March 4th. Halliburton’s dividend payout ratio is presently 45.03%.

Analyst Ratings Changes

Several brokerages have recently commented on HAL. BMO Capital Markets raised their target price on Halliburton from $36.00 to $39.00 and gave the company a “market perform” rating in a research note on Thursday, January 22nd. Argus upped their price target on Halliburton from $31.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Halliburton in a research note on Monday, December 29th. TD Cowen boosted their price objective on Halliburton from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Finally, Susquehanna upped their target price on Halliburton from $36.00 to $40.00 and gave the stock a “positive” rating in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.38.

Insiders Place Their Bets

In other news, EVP Van H. Beckwith sold 54,348 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were sold at an average price of $34.96, for a total value of $1,900,006.08. Following the completion of the sale, the executive vice president owned 344,535 shares in the company, valued at $12,044,943.60. This represents a 13.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lawrence J. Pope sold 100,000 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $32.25, for a total transaction of $3,225,000.00. Following the completion of the sale, the executive vice president owned 419,800 shares of the company’s stock, valued at approximately $13,538,550. This represents a 19.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 331,994 shares of company stock worth $11,331,187 in the last three months. 0.61% of the stock is owned by corporate insiders.

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.