Halliburton Company (NYSE:HAL) Stock Position Increased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Halliburton by acquiring 292,748 shares, raising its holdings by 102.7% to a total of 577,685 shares valued at approximately $14.66 million.
• Halliburton reported $0.55 EPS in its last quarterly earnings, aligning with analysts' expectations, but experienced a 5.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.17, which equates to an annual yield of 3.3%, with a payout ratio of 31.78%.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Halliburton Company (NYSE:HAL - Free Report) by 102.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 577,685 shares of the oilfield services company's stock after acquiring an additional 292,748 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.07% of Halliburton worth $14,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of Halliburton by 13,675.2% during the first quarter. ORG Partners LLC now owns 17,219 shares of the oilfield services company's stock worth $440,000 after purchasing an additional 17,094 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Halliburton by 33.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 159,533 shares of the oilfield services company's stock worth $4,047,000 after buying an additional 40,109 shares during the last quarter. Concurrent Investment Advisors LLC lifted its stake in shares of Halliburton by 22.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 128,351 shares of the oilfield services company's stock worth $3,256,000 after acquiring an additional 23,887 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Halliburton by 2.5% in the first quarter. Principal Financial Group Inc. now owns 2,780,057 shares of the oilfield services company's stock valued at $70,530,000 after acquiring an additional 67,704 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Halliburton by 754.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 824,549 shares of the oilfield services company's stock worth $20,671,000 after acquiring an additional 728,059 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on HAL shares. Wells Fargo & Company reduced their price objective on shares of Halliburton from $28.00 to $26.00 and set an "overweight" rating for the company in a research report on Wednesday, July 23rd. Barclays cut their target price on Halliburton from $26.00 to $22.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 23rd. Stifel Nicolaus reduced their price target on Halliburton from $31.00 to $29.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. Piper Sandler lowered Halliburton from an "overweight" rating to a "neutral" rating and set a $25.00 price objective on the stock. in a report on Monday, July 28th. Finally, UBS Group cut their price objective on Halliburton from $21.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Eight analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $31.00.

Halliburton Trading Up 0.9%

Shares of NYSE HAL traded up $0.19 during midday trading on Wednesday, reaching $21.16. 9,058,379 shares of the stock were exchanged, compared to its average volume of 14,991,138. The stock has a 50 day moving average price of $21.61 and a 200-day moving average price of $22.64. The company has a current ratio of 2.00, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $18.04 billion, a P/E ratio of 9.89, a P/E/G ratio of 3.67 and a beta of 1.12. Halliburton Company has a 52-week low of $18.72 and a 52-week high of $32.57.

Halliburton (NYSE:HAL - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.55. The firm had revenue of $5.51 billion for the quarter, compared to analyst estimates of $5.43 billion. Halliburton had a net margin of 8.37% and a return on equity of 21.45%. Halliburton's revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.80 earnings per share. Equities research analysts expect that Halliburton Company will post 2.64 earnings per share for the current fiscal year.

Halliburton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.2%. Halliburton's dividend payout ratio (DPR) is presently 31.78%.

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.