Connor Clark & Lunn Investment Management Ltd. Has $7.75 Million Stock Position in Halliburton (NYSE:HAL)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Halliburton (NYSE:HAL) by 84.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 284,937 shares of the oilfield services company’s stock after purchasing an additional 130,651 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Halliburton were worth $7,747,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HAL. EverSource Wealth Advisors LLC lifted its position in Halliburton by 1.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 36,612 shares of the oilfield services company’s stock worth $995,000 after buying an additional 573 shares in the last quarter. HighTower Advisors LLC raised its holdings in Halliburton by 1.3% during the fourth quarter. HighTower Advisors LLC now owns 680,693 shares of the oilfield services company’s stock worth $18,508,000 after acquiring an additional 8,751 shares in the last quarter. Founders Financial Alliance LLC acquired a new position in Halliburton during the fourth quarter valued at approximately $202,000. Pzena Investment Management LLC grew its stake in Halliburton by 0.4% in the fourth quarter. Pzena Investment Management LLC now owns 1,547,656 shares of the oilfield services company’s stock valued at $42,081,000 after purchasing an additional 5,650 shares in the last quarter. Finally, Independent Advisor Alliance increased its position in shares of Halliburton by 29.0% during the 4th quarter. Independent Advisor Alliance now owns 10,625 shares of the oilfield services company’s stock worth $289,000 after purchasing an additional 2,390 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HAL. Barclays decreased their target price on shares of Halliburton from $32.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group decreased their price objective on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company dropped their target price on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Piper Sandler began coverage on Halliburton in a report on Thursday, December 19th. They set an “overweight” rating and a $36.00 price target for the company. Finally, Stifel Nicolaus dropped their price objective on Halliburton from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $37.42.

Halliburton Stock Up 3.1 %

Shares of NYSE HAL opened at $25.09 on Friday. The company has a market cap of $21.78 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 3.79 and a beta of 1.84. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. Halliburton has a 12 month low of $23.42 and a 12 month high of $41.56. The stock has a 50-day moving average price of $26.55 and a two-hundred day moving average price of $28.27.

Halliburton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio is 24.03%.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 10,497 shares of Halliburton stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $24.60, for a total transaction of $258,226.20. Following the sale, the vice president now directly owns 77,784 shares in the company, valued at $1,913,486.40. This trade represents a 11.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Eric Carre sold 141,206 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the transaction, the chief financial officer now directly owns 127,101 shares of the company’s stock, valued at $3,321,149.13. The trade was a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,603 shares of company stock worth $4,041,695 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.