Delta Global Management LP Takes Position in Halliburton Company $HAL

Delta Global Management LP purchased a new stake in shares of Halliburton Company (NYSE:HAL) in the third quarter, Holdings Channel reports. The firm purchased 110,619 shares of the oilfield services company’s stock, valued at approximately $2,721,000.

Other hedge funds have also bought and sold shares of the company. Cullen Frost Bankers Inc. bought a new position in Halliburton in the 3rd quarter valued at $25,000. Kelleher Financial Advisors bought a new stake in shares of Halliburton during the 3rd quarter worth $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Halliburton in the 2nd quarter worth about $25,000. Root Financial Partners LLC bought a new position in Halliburton during the third quarter valued at about $32,000. Finally, Rakuten Securities Inc. grew its position in Halliburton by 547.3% during the second quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company’s stock valued at $32,000 after buying an additional 1,341 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Insider Transactions at Halliburton

In related news, VP Timothy Mckeon sold 3,846 shares of the business’s stock in a transaction on Friday, March 6th. The stock was sold at an average price of $34.37, for a total transaction of $132,187.02. Following the sale, the vice president directly owned 81,631 shares in the company, valued at approximately $2,805,657.47. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey Allen Miller sold 171,200 shares of the stock in a transaction dated Friday, January 23rd. The stock was sold at an average price of $34.96, for a total value of $5,985,152.00. Following the sale, the chief executive officer directly owned 1,101,243 shares in the company, valued at $38,499,455.28. This trade represents a 13.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 331,994 shares of company stock valued at $11,331,187. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Evercore lifted their price objective on shares of Halliburton from $35.00 to $36.00 and gave the stock an “in-line” rating in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their target price on shares of Halliburton from $36.00 to $38.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. Morgan Stanley restated an “overweight” rating and set a $35.00 price target on shares of Halliburton in a research note on Wednesday, January 21st. Zephirin Group downgraded Halliburton from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $28.00 in a research note on Friday, January 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Halliburton from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.38.

Halliburton Price Performance

HAL opened at $33.70 on Monday. The firm has a 50-day moving average price of $33.93 and a 200-day moving average price of $28.50. Halliburton Company has a twelve month low of $18.72 and a twelve month high of $37.03. The company has a quick ratio of 1.51, a current ratio of 2.04 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $28.23 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.01 and a beta of 0.73.

Halliburton (NYSE:HAL) last released 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 net margin of 5.78% and a return on equity of 19.77%. The company had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the firm earned $0.73 EPS. Halliburton’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts expect that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, March 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. Halliburton’s dividend payout ratio is currently 45.03%.

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.