It's definitely emotional... and sad.
It's so full of different emotions. Even before that hug. Look at his face when Justin told him, that he could have been dead if Hobbs would have hit him a little highter or lower... it's like "STOP"... and also when Justin says "You could have called just to hear if I'm still alive" and he answers "I'm sure I would have heard if you weren't" - which is also like "Stop saying this!"
You can also read tons of emotions in his face when he sees Justin at Woody's.