Capital Innovations LLC Makes New $8.99 Million Investment in Halliburton Company $HAL

Capital Innovations LLC bought a new position in Halliburton Company (NYSE:HAL) during the fourth quarter, Holdings Channel.com reports. The fund bought 318,002 shares of the oilfield services company’s stock, valued at approximately $8,987,000. Halliburton comprises approximately 2.6% of Capital Innovations LLC’s investment portfolio, making the stock its 17th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. Nvest Wealth Strategies Inc. bought a new position in Halliburton in the 4th quarter worth about $25,000. Kelleher Financial Advisors bought a new position in Halliburton in the 3rd quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new position in Halliburton in the 2nd quarter worth about $25,000. Strive Asset Management LLC bought a new position in Halliburton in the 3rd quarter worth about $31,000. Finally, Rakuten Securities Inc. grew its stake in Halliburton by 547.3% in the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock worth $32,000 after acquiring an additional 1,341 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on HAL shares. UBS Group upped their target price on shares of Halliburton from $35.00 to $39.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada increased their price objective on shares of Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Evercore increased their price objective on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. HSBC increased their price objective on shares of Halliburton from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Finally, BMO Capital Markets increased their price objective on shares of Halliburton from $42.00 to $45.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th. Eighteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.05.

Insider Buying and Selling

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the completion of the sale, the director directly owned 15,250 shares in the company, valued at $636,230. This trade represents a 28.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the firm’s stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of $40.00, for a total transaction of $6,338,200.00. Following the completion of the sale, the chief executive officer owned 1,013,027 shares of the company’s stock, valued at approximately $40,521,080. This trade represents a 13.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 420,837 shares of company stock valued at $16,979,135 over the last quarter. Insiders own 0.57% of the company’s stock.

Halliburton Price Performance

NYSE HAL opened at $40.14 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. The firm’s 50 day moving average price is $39.55 and its 200-day moving average price is $34.23. Halliburton Company has a 52-week low of $19.64 and a 52-week high of $43.59. The company has a market cap of $33.54 billion, a PE ratio of 22.06, a P/E/G ratio of 1.70 and a beta of 0.69.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The firm had revenue of $5.40 billion for the quarter, compared to the consensus estimate of $5.37 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Sell-side analysts forecast that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 37.36%.

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.