Connor Clark & Lunn Investment Management Ltd. Purchases 130,651 Shares of Halliburton (NYSE:HAL)

Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Halliburton (NYSE:HAL) by 84.7% in the 4th quarter, according to its most recent filing 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 and hedge funds have also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in shares of Halliburton in the fourth quarter valued at approximately $36,000. Continuum Advisory LLC grew its position in Halliburton by 101.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,388 shares of the oilfield services company’s stock worth $42,000 after acquiring an additional 698 shares during the last quarter. Modus Advisors LLC acquired a new stake in Halliburton during the 4th quarter valued at $38,000. Venturi Wealth Management LLC raised its position in Halliburton by 34.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,618 shares of the oilfield services company’s stock valued at $47,000 after purchasing an additional 412 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its stake in Halliburton by 28.8% in the third quarter. Brown Brothers Harriman & Co. now owns 1,759 shares of the oilfield services company’s stock worth $51,000 after purchasing an additional 393 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HAL has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Halliburton from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Benchmark lowered their price objective on shares of Halliburton from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley decreased their price target on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a research note on Monday, November 18th. Jefferies Financial Group dropped 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. Finally, Piper Sandler started coverage on Halliburton in a research report on Thursday, December 19th. They issued an “overweight” rating and a $36.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.42.

Halliburton Stock Up 3.1 %

Halliburton stock opened at $25.09 on Friday. The firm has a market capitalization 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’s 50 day simple moving average is $26.55 and its 200 day simple moving average is $28.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.54. Halliburton has a fifty-two week low of $23.42 and a fifty-two week high of $41.56.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Wednesday, March 5th. Halliburton’s dividend payout ratio (DPR) is 24.03%.

Insider Activity at Halliburton

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

Halliburton Profile

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.