Energy Income Partners LLC Makes New $19.48 Million Investment in Halliburton Company $HAL

Key Points

• Energy Income Partners acquired 573,929 Halliburton shares worth approximately $19.48 million, giving it about a 0.07% stake. Institutional investors collectively own 85.23% of Halliburton.
• Halliburton exceeded quarterly expectations, reporting $0.55 in earnings per share and $5.71 billion in revenue, up 3.7% year over year. Analysts expect $2.34 in full-year EPS.
• The stock has a “Moderate Buy” consensus rating from analysts, with an average price target of $43.10 versus a recent price of $34.77. Halliburton also pays a quarterly dividend of $0.17 per share, yielding about 2.0%.

Energy Income Partners LLC acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 573,929 shares of the oilfield services company's stock, valued at approximately $19,485,000. Energy Income Partners LLC owned approximately 0.07% of Halliburton at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of HAL. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company's stock valued at $2,353,000 after buying an additional 6,507 shares during the last quarter. Woodline Partners LP increased its stake in Halliburton by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company's stock valued at $1,861,000 after buying an additional 20,583 shares during the period. Focus Partners Wealth raised its holdings in Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company's stock worth $1,320,000 after purchasing an additional 10,408 shares in the last quarter. Intech Investment Management LLC lifted its position in Halliburton by 309.1% in the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company's stock valued at $1,749,000 after purchasing an additional 52,092 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in Halliburton in the 1st quarter valued at approximately $895,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Halliburton Stock Performance

Shares of HAL stock opened at $34.77 on Wednesday. The stock has a fifty day moving average price of $34.21 and a 200 day moving average price of $36.48. The stock has a market cap of $28.97 billion, a PE ratio of 18.20, a P/E/G ratio of 2.15 and a beta of 0.73. Halliburton Company has a 1 year low of $20.78 and a 1 year high of $43.59. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.01. Halliburton had a return on equity of 18.71% and a net margin of 7.16%.The company had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the previous year, the business earned $0.55 earnings per share. Halliburton's quarterly revenue was up 3.7% compared to the same quarter last year. Sell-side analysts forecast that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. Halliburton's payout ratio is presently 35.60%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HAL shares. Griffin Securities upgraded Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 target price on the stock in a research report on Wednesday, April 22nd. UBS Group decreased their price target on Halliburton from $40.00 to $39.00 and set a "neutral" rating on the stock in a research note on Monday, July 27th. Barclays dropped their price objective on Halliburton from $55.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, July 22nd. HSBC increased their price objective on Halliburton from $40.00 to $46.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets set a $37.00 target price on Halliburton in a report on Wednesday, July 22nd. Eighteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Halliburton currently has an average rating of "Moderate Buy" and an average target price of $43.10.

Insider Activity

In other news, CFO Eric Carre sold 24,778 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value 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 represents a 14.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is owned by company insiders.

Halliburton Company 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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