Connor Clark & Lunn Investment Management Ltd. Invests $62.79 Million in Halliburton Company $HAL

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Halliburton Company (NYSE:HAL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,849,485 shares of the oilfield services company’s stock, valued at approximately $62,790,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.22% of Halliburton at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Kelleher Financial Advisors acquired a new position in shares of Halliburton during the third quarter valued at about $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Halliburton in the 2nd quarter worth approximately $25,000. Kilter Group LLC acquired a new stake in Halliburton in the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in Halliburton during the 2nd quarter worth approximately $26,000. Finally, Silvant Capital Management LLC acquired a new position in Halliburton during the 2nd quarter valued at approximately $28,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other news, CFO Eric Carre sold 24,778 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was 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. The trade was a 14.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jeffrey Shannon Slocum sold 52,572 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer directly owned 118,730 shares of the company’s stock, valued at approximately $4,166,235.70. This trade represents a 30.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Susquehanna decreased their price target on shares of Halliburton from $45.00 to $42.00 and set a “positive” rating for the company in a report on Wednesday, July 8th. Capital One Financial boosted their price objective on shares of Halliburton from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Freedom Capital raised Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Citigroup raised their target price on Halliburton from $47.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Rothschild & Co Redburn lifted their price target on Halliburton from $40.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eighteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.10.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton Labs added Electroflow, Osmoses and SiTration to its portfolio. The companies focus on battery materials, gas separation and critical-metal recovery, giving Halliburton exposure to emerging energy technologies and potentially supporting longer-term diversification beyond traditional oilfield services. Halliburton Labs Announces Three New Portfolio Companies
• Positive Sentiment: Halliburton’s latest quarterly results showed modest operational strength: earnings per share exceeded estimates, revenue reached $5.71 billion versus a $5.50 billion consensus, and sales increased 3.7% year over year. Analysts remain broadly constructive, with a consensus “Moderate Buy” rating and an average price target of $43.10, well above recent trading levels. Q2 Rundown: Halliburton Vs Other Oilfield Services Stocks
• Neutral Sentiment: Recent options-market activity has drawn attention to the possibility of a larger move in HAL, but the available report does not establish whether traders are positioned for a rise or decline. The activity mainly signals increased volatility expectations. Are Options Traders Betting on a Big Move in Halliburton Stock?
• Negative Sentiment: COO Jeffrey Shannon Slocum sold 52,572 shares worth approximately $1.84 million, reducing his direct ownership by 30.69%. The transaction was made under a pre-arranged Rule 10b5-1 plan, which makes it a weaker bearish signal, but the size of the sale may still weigh on sentiment.
• Negative Sentiment: Although Halliburton beat quarterly estimates, EPS was unchanged from the year-earlier period, and analysts have recently lowered several price targets. That combination suggests expectations for near-term oilfield-services growth remain restrained despite the company’s longer-term opportunities.

Halliburton Stock Performance

Shares of NYSE HAL opened at $35.38 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. Halliburton Company has a 12 month low of $21.40 and a 12 month high of $43.59. The company has a 50 day simple moving average of $33.95 and a two-hundred day simple moving average of $36.53. The stock has a market cap of $29.48 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 2.21 and a beta of 0.73.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 EPS 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 business had revenue of $5.71 billion for the quarter, compared to the consensus estimate of $5.50 billion. During the same period in the prior year, the firm earned $0.55 EPS. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, analysts predict that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Profile

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.