Jupiter Topco LLC Takes Position in Halliburton Company $HAL

Key Points

• Jupiter Topco LLC acquired 90,032 Halliburton shares during the second quarter, valued at approximately $3.1 million. Institutional investors and hedge funds collectively own 85.23% of the company.
• Halliburton reported quarterly earnings of $0.55 per share, topping estimates by $0.01, while revenue rose 3.7% year over year to $5.71 billion.
• The company declared a quarterly dividend of $0.17 per share, equivalent to an annualized $0.68 payout and a 1.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $43.10.

Jupiter Topco LLC purchased a new position in shares of Halliburton Company (NYSE:HAL - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 90,032 shares of the oilfield services company's stock, valued at approximately $3,055,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in Halliburton by 10.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,794 shares of the oilfield services company's stock worth $109,000 after purchasing an additional 258 shares in the last quarter. Vermillion Wealth Management Inc. increased its position in shares of Halliburton by 24.8% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,456 shares of the oilfield services company's stock valued at $41,000 after buying an additional 289 shares in the last quarter. Coldstream Capital Management Inc. increased its position in shares of Halliburton by 1.5% in the fourth quarter. Coldstream Capital Management Inc. now owns 23,312 shares of the oilfield services company's stock valued at $659,000 after buying an additional 349 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of Halliburton by 7.3% during the 4th quarter. Harbour Investments Inc. now owns 5,320 shares of the oilfield services company's stock worth $150,000 after buying an additional 361 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its position in shares of Halliburton by 3.7% in the 4th quarter. Kingsview Wealth Management LLC now owns 10,363 shares of the oilfield services company's stock worth $293,000 after buying an additional 365 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company's stock.

Insider Activity at Halliburton

In other Halliburton news, COO Jeffrey Shannon Slocum sold 52,572 shares of Halliburton stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $35.09, for a total value of $1,844,751.48. Following the completion of the sale, the chief operating officer directly owned 118,730 shares of the company's stock, valued at approximately $4,166,235.70. The trade was a 30.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Eric Carre sold 24,778 shares of the business's stock in a transaction 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 completion of the transaction, the chief financial officer owned 148,520 shares of the company's stock, valued at $5,330,382.80. This trade represents a 14.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.57% of the company's stock.

Halliburton Stock Up 2.4%

HAL opened at $37.67 on Thursday. The firm has a market cap of $31.39 billion, a P/E ratio of 19.73, a PEG ratio of 2.12 and a beta of 0.76. The business's fifty day simple moving average is $33.96 and its 200 day simple moving average is $36.60. Halliburton Company has a 52 week low of $21.40 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.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion during the quarter, compared to the consensus estimate of $5.50 billion. During the same quarter in the previous year, the company posted $0.55 EPS. The firm's revenue for the quarter was up 3.7% on a year-over-year basis. As a group, equities research analysts anticipate that Halliburton Company will post 2.34 EPS for the current fiscal year.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, September 2nd. Halliburton's payout ratio is currently 35.60%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Halliburton from a "buy" rating to a "hold" rating in a research note on Monday. Capital One Financial lifted their target price on shares of Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Halliburton in a report on Wednesday, July 8th. Freedom Capital upgraded shares of Halliburton from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets set a $37.00 price objective on shares of Halliburton in a research note on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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