Halliburton Co. (HAL)

ENERGY: ENERGY EQUIPMENT & SERVICES
SIC: OIL & GAS FIELD SERVICES, NEC

3000 NORTH SAM HOUSTON PARKWAY EAST HOUSTON, TX 77032

Provides services and products for the exploration, development and production segments of the petroleum industry; and provides engineering, construction, project management, facilities operation and maintenance, and environmental services for industrial and governmental customers.

Erle Palmer Halliburton founded the Halliburton Oil Well Cementing Company in 1920 in Oklahoma. One year after the company's founding, seventeen trucks carried its crews and equipment to drilling sites in Louisiana, Arkansas, and other oil-rich areas from a base in Oklahoma.

The jet mixer, a mechanized mixer that did away with hand-mixing of the minimum 250 bags of cement and water slurry needed for each well, revolutionized the oil industry. Because it could control the proportions of cement and water, it eliminated wasted slurry that would harden before it could be poured. By 1924 Halliburton and his wife, Vida, converted their partnership into a corporation and offered a substantial interest in their business to other oil companies. Their trump card lay in their meticulous patenting of all new processes and devices, which had left the oil companies unable to have oil wells cemented without using Halliburton services. Company patents also covered processes designed for well recementing, a maintenance necessity that gave the Halliburton's relative independence from competitors. The Halliburton Oil Well Cementing Company was incorporated in Delaware that year.

By the time the company reached its ten-year milestone in 1929, research and development had improved processes and equipment to the point where a mixture made up of 2,500 sacks of cement could be injected into a well in forty-eight minutes. By that time, the use of four new company planes made for speedy contract completion. Marking this important anniversary was the Halliburton entry into Canada, as well as offering for sale a wide range of oil well apparatus.

The 1930s saw automobile production and domestic oil heating soar. These circumstances benefited the oil industry. As the decade ended, oil and gas were supplying 44.5 percent of the U.S. total energy requirements. Halliburton's expansion kept pace with demand. It opened four new branches in 1932, enabling it to send seventy-five cementing and well-testing crews to sites in seven states. The company introduced bulk cementing to replace hand moving of heavy cement sacks. Eager to participate in the marine oil exploration taking place in the Gulf of Mexico, Halliburton also began to mount equipment on ships and barges.

In 1940 the Halliburtons bought Perkins Cementing Company, extending operations to the West Coast and the Rocky Mountain region. The company established its first South American subsidiary in Venezuela in the same year. These two moves proved profitable; just one year later, earnings reached $13.5 million, of which $2 million was net profit. Soon after the Pearl Harbor attack, the company began to make gun-mount bearings for the U.S. Navy. Other war materials manufactured included parts for the B-29 bomber and jigs, fixtures, and dies for the Boeing airplane plant in Wichita, Kansas. Wartime contracts were lucrative; when World War II ended, annual earnings reached $25.7 million. In 1948 Halliburton shares were offered on the New York Stock Exchange for the first time. By the end of the 1940s, although well cementing and bulk cement sales accounted for about 70 percent of company revenues, there were other profitable undertakings, all supported by specially designed equipment. Electrical well services provided information on the types of formations penetrated by a drill; acidizing of geological formations increased oil flow; and specialized equipment deposited various cements and chemicals into wells. Most profitable of all was a new process called Hydrafrac, licensed exclusively to Halliburton for a period of time by its developer, the Stanolind Oil and Gas Company. Designed to increase well productivity, this method used jellied gasoline, which was pumped under pressure into the bottom of a well to split the rock formation. This resulting crack was then propped open with quantities of sand, making penetration of tight rock formations easier. The Hydrafrac process made it possible to rejuvenate many dwindling oil wells and reduced the number of sites necessary to drain a field. A surge in annual revenues showed Hydrafrac's great success: $57.2 million in 1949, increasing to $69.3 million the following year, and leaping to $92.6 million by 1951.

Between 1950 and 1955 the company expanded in all directions. Drilling activity increased dramatically. Equipment by that time included formation-testing tools to obtain fluids and pressure readings from oil-bearing rock, plus other new equipment used in well completion operations. Wall cleaners, depth measuring equipment, and production packers were other lines that drillers could rent or buy. Services provided by the company included electronic logging and sidewall well-coring, and the transporting of cement and fracturing sands to drilling sites from nearby Halliburton storage areas. Oil exploration in the Texas and Louisiana Gulf Coast areas was flourishing. Research and development kept the company at the forefront of oil exploration technology. Costing $3 million in 1956 alone, it rewarded the company's efforts with a new composition for cementing deep wells and a method for making the fracturing sand radioactive, among other innovations. All of this was reflected in the annual sales figures, which reached $152.4 million by the end of 1955 and produced net profits of $16.3 million.

Data as of 2020-11-22
Market Cap14.056 Billion Shares Outstanding884.007 Million Avg 30-day Volume13.867 Million
P/E Ratio-3.2 Dividend Yield1.132 EPS-4.98
Price/Sales0.857 Price cash flow ratio5.8 Price free cash flow ratio12.1
Book Value5.88 Price to Tangible Book5.87 Alpha-0.03
Short Interest Ratio % Short Interest to Float R-squared0.602118
BETA2.72995 52-week High/Low25.47 / 4.25 Stddev0.148257
View SEC Filings from HAL instead.
Q3 2020 All 13F Filers Prior Change Hedge Funds 1 Prior Change
In top 10: 3 5 -40.0% 1 (0.07%) 1 (0.06%) 0.0%
Funds Holding: 654 637 2.67% 121 (7.96%) 115 (7.46%) 5.22%
13F shares: 665.638 Million 627.578 Million 6.06% 117.768 Million 114.7 Million 2.68%
% Ownership 75.7724 71.4398 6.06% 13.406 13.0567 2.68%
New Positions: 86 96 -10.42% 23 21 9.52%
Increased Positions 180 198 -9.09% 43 32 34.38%
Closed Positions 62 121 -48.76% 17 32 -46.88%
Reduced Positions 264 248 6.45% 39 49 -20.41%
Total Calls 17.123 Million 16.001 Million 7.01% 9.117 Million 7.898 Million 15.44%
Total Puts 27.428 Million 25.137 Million 9.12% 15.103 Million 12.536 Million 20.48%
PUT/CALL Ratio 1.6 1.57 1.91% 1.66 1.59 4.4%
1 hedge funds and active managers as identified by whalewisdom.com through public filings.

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Funds Holding HAL (via 13F filings)

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Mutual Funds Holding HAL BETA

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Open Market Buys/Sells Last 60 Days

Open Market Buys (P)

none

Open Market Sells (S)

none

Exercise Derivative Conversion (M)

2.1 Thousand total shares from 1 transactions

Current/Former Insiders

Insider Name Type Last Reported Shares Held Last Reported Date Filings in past year

RICHARD MARK PRESIDENT - WESTERN HEMISPHERE

  • Officer
164,121 2020-10-29 4

BENNETT ALAN M

  • Director
27,236 2020-09-30 4

CARROLL MILTON

  • Director
20,271 2020-09-30 4

DICCIANI NANCE K

  • Director
27,172 2020-09-30 5

AL KHAYYAL ABDULAZIZ FAHD

  • Director
0 2020-09-30 4

MALONE ROBERT A

  • Director
42,269 2020-08-03 1

GERBER MURRY

  • Director
580,052 2020-08-03 3

HALL PATRICIA HEMINGWAY

  • Director
2,768 2020-08-03 2

BANKS MARGARET KATHERINE

  • Director
2,768 2020-08-03 2

GEER CHARLES JR. VP AND CORPORATE CONTROLLER

  • Officer
45,254 2020-05-19 4

LOEFFLER LANCE EVP & CHIEF FINANCIAL OFFICER

  • Officer
81,356 2020-05-05 5

CARRE ERIC EVP, GLOBAL BUSINESS LINES

  • Officer
164,683 2020-01-06 3

BEATY ANNE L. SENIOR VP, FINANCE

  • Officer
59,601 2020-01-06 3

JONES MYRTLE L SENIOR VICE PRES - TAX

  • Officer
69,988 2020-01-01 4

ALBRECHT WILLIAM E

  • Director
16,000 2019-12-31 1

POPE LAWRENCE J EVP ADMINISTRATION & CHRO

  • Officer
235,170 2019-12-09 3

RAINEY JOE D PRES., EASTERN HEMISPHERE

  • Officer
275,488 2019-12-09 3

MILLER JEFFREY ALLEN DIRECTOR, PRESIDENT & CEO

  • Officer
  • Director
658,817 2019-12-09 3

MCKEON TIMOTHY VICE PRES AND TREASURER

  • Officer
26,797 2019-12-09 3

VOYLES ROBB L. EVP, SEC & GENERAL COUNSEL

  • Officer
260,830 2019-12-09 2

BOYD JAMES R

  • Director
47,236 2019-03-31 0

GRUBISICH JOSE C

  • Director
0 2018-12-31 0

LESAR DAVID J EXEC CHAIRMAN OF THE BOARD

  • Officer
  • Director
595,202 2018-12-10 0

BROWN JAMES S PRESIDENT - WESTERN HEMISPHERE

  • Officer
124,711 2018-12-10 0

REED DEBRA L

  • Director
33,562 2018-08-01 0

WEBER CHRISTOPHER T EVP & CHIEF FINANCIAL OFFICER

  • Officer
64,105 2018-06-28 0

MARTIN J LANDIS

  • Director
96,764 2018-03-31 0

MCCOLLUM MARK A EVP - CHIEF FINANCIAL OFFICER

  • Officer
204,993 2017-02-27 0

GARCIA CHRISTIAN A SVP OF FINANCE AND ACTING CFO

  • Officer
59,106 2016-03-10 0

JUMAH ABDALLAH

  • Director
9,126 2015-03-31 0

CORNELISON ALBERT O JR

  • FORMER VICE PRESIDENT
No longer subject to file 2014-06-20 0

PROBERT TIMOTHY J

  • STRATEGIC ADVISOR TO CEO
No longer subject to file 2014-06-12 0

ANGELLE EVELYN M SENIOR VP -CHIEF ACCT. OFFICER

  • Officer
No longer subject to file 2014-05-22 0

GILLIS STEPHEN MALCOLM

  • Director
28,762 2012-09-26 0

ANDOLINO JOSEPH F SENIOR VICE PRES - TAX

  • Officer
15,687 2012-01-04 0

HACKETT JAMES T

  • Director
14,512 2011-06-30 0

NUNEZ CRAIG W SENIOR VICE PRES. & TREASURER

  • Officer
21,060 2011-02-25 0

LOTFY AHMED H M PRESIDENT - EASTERN HEMISPHERE

  • Officer
119,179 2010-12-02 0

PRECOURT JAY A

  • RETIRED DIRECTOR
52,306 2010-09-10 0

KING DAVID S PRES. - COMPLETION & PRODUCTIO

  • Officer
104,594 2010-02-18 0

DERR KENNETH T

  • Director
26,719 2009-06-30 0

GAUT C CHRISTOPHER PRES - DRILLING AND EVALUATION

  • Officer
254,476 2009-03-04 0

BERNARD PETER C SENIOR VP - BD/MARKETING

  • Officer
39,908 2009-01-02 0

HOWELL WILLIAM R

  • RETIRED DIRECTOR
No longer subject to file 2008-06-11 0

CRANDALL ROBERT L

  • Director
22,571 2008-03-31 0

BADER KATHLEEN M

  • Director
4,804 2008-03-31 0

LANE ANDREW R

  • FORMER EVP AND COO
178,297 2008-01-02 0

Insider Transactions Last 60 Days

Reporting Owners Filing Date Trans Date Trans Code Shares Share Price Acquired
Disposed
Shares Owned after D/I 10b5 Perf 1d* Perf 5d* Perf 1m* Max Gain Max Gain Days Max Loss Max Loss Days

RICHARD MARK - Officer PRESIDENT - WESTERN HEMISPHERE

2020-11-02 15:17:17 -0500 2020-10-29 M 2,134 $12.51 a 164,961 direct 1.4844 12.3438 12.3438 6 -4.0625 5

RICHARD MARK - Officer PRESIDENT - WESTERN HEMISPHERE

2020-11-02 15:17:17 -0500 2020-10-29 M 2,134 d 0 direct

RICHARD MARK - Officer PRESIDENT - WESTERN HEMISPHERE

2020-11-02 15:17:17 -0500 2020-10-29 F 840 $12.51 d 164,121 direct 1.4844 12.3438 12.3438 6 -4.0625 5

* -

Transaction Code Definitions
Code Definition
A Grant, award or other acquisition pursuant to Rule 16b-3(d)
C Conversion of derivative security
D Disposition to the issuer of issuer equity securities pursuant to Rule 16b-3(e)
E Expiration of short derivative position
F Payment of exercise price or tax liability by delivering or withholding securities incident to the receipt, exercise or vesting of a security issued in accordance with Rule 16b-3
G Bona fide gift
H Expiration (or cancellation) of long derivative position with value received
I Discretionary transaction in accordance with Rule 16b-3(f) resulting in acquisition or disposition of issuer securities
J Other acquisition or disposition
L Small acquisition under Rule 16a-6
M Exercise or conversion of derivative security exempted pursuant to Rule 16b-3
O Exercise of out-of-the-money derivative security
P Open market or private purchase of non-derivative or derivative security
S Open market or private sale of non-derivative or derivative security
U Disposition pursuant to a tender of shares in a change of control transaction
W Acquisition or disposition by will or the laws of descent and distribution
X Exercise of in-the-money or at-the-money derivative security
Z Deposit into or withdrawal from voting trust

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