Capital Innovations LLC Acquires Shares of 318,002 Halliburton Company $HAL

Key Points

• Capital Innovations LLC opened a new position in Halliburton in the fourth quarter, buying 318,002 shares worth about $8.99 million. The stake makes up roughly 2.6% of the firm’s portfolio.
• Halliburton’s latest quarterly results beat earnings and revenue estimates, posting $0.55 EPS versus $0.50 expected and $5.40 billion in revenue versus $5.37 billion expected. Analysts now forecast 2.34 EPS for the current year.
• The company also announced a quarterly dividend of $0.17 per share, or $0.68 annualized, for a 1.7% yield. Meanwhile, Wall Street remains broadly positive, with a consensus rating of Moderate Buy and a price target of $43.05.

Capital Innovations LLC acquired a new stake in shares of Halliburton Company (NYSE:HAL - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 318,002 shares of the oilfield services company's stock, valued at approximately $8,987,000. Halliburton comprises about 2.6% of Capital Innovations LLC's investment portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital Research Global Investors boosted its holdings in shares of Halliburton by 81.8% during the 3rd quarter. Capital Research Global Investors now owns 91,030,451 shares of the oilfield services company's stock valued at $2,239,349,000 after purchasing an additional 40,969,139 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Halliburton by 82,596.0% during 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 purchasing an additional 29,735,387 shares during the last quarter. Sanders Capital LLC boosted its holdings in shares of Halliburton by 9.4% during the 3rd 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 during the last quarter. Strive Asset Management LLC bought a new position in shares of Halliburton during the 3rd quarter valued at about $418,738,000. Finally, AQR Capital Management LLC raised its position in shares of Halliburton by 85.5% during the 2nd quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company's stock valued at $175,490,000 after buying an additional 3,969,759 shares in the last quarter. Institutional investors own 85.23% of the company's stock.

Halliburton Stock Performance

Halliburton stock opened at $40.14 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. Halliburton Company has a 1-year low of $19.64 and a 1-year high of $43.59. The firm has a market capitalization of $33.54 billion, a P/E ratio of 22.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.69. The company's 50-day moving average is $39.55 and its 200 day moving average is $34.23.

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

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 3rd. Halliburton's dividend payout ratio is 37.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HAL shares. Morgan Stanley upped their target price on shares of Halliburton from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Wednesday, April 22nd. TD Cowen upped their target price on shares of Halliburton from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada upped their target price on shares of Halliburton from $43.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. UBS Group upped their target price on shares of Halliburton from $35.00 to $39.00 and gave the company a "neutral" rating in a research report on Tuesday, April 7th. Finally, Argus upped their target price on shares of Halliburton from $39.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Eighteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Halliburton has a consensus rating of "Moderate Buy" and a consensus price target of $43.05.

Insider Buying and Selling

In related news, insider Michael Casey Maxwell sold 20,348 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $41.89, for a total value of $852,377.72. Following the sale, the insider directly owned 93,763 shares of the company's stock, valued at $3,927,732.07. This represents a 17.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jeffrey Allen Miller sold 158,455 shares of the stock in a transaction dated Friday, March 27th. The stock was 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 directly owned 1,013,027 shares in the company, valued at $40,521,080. This trade represents a 13.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 420,837 shares of company stock worth $16,979,135 over the last three months. 0.57% of the stock is currently owned by company insiders.

Halliburton Profile

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.

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