Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Halliburton (NYSE:HAL)

Connor Clark & Lunn Investment Management Ltd. grew its position in Halliburton (NYSE:HAL) by 260.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 154,286 shares of the oilfield services company’s stock after acquiring an additional 111,482 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Halliburton were worth $4,482,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HAL. First Horizon Advisors Inc. boosted its position in shares of Halliburton by 2.1% during the second quarter. First Horizon Advisors Inc. now owns 14,027 shares of the oilfield services company’s stock valued at $474,000 after buying an additional 295 shares during the period. Beacon Capital Management LLC lifted its position in shares of Halliburton by 28.8% during the first quarter. Beacon Capital Management LLC now owns 1,382 shares of the oilfield services company’s stock worth $54,000 after purchasing an additional 309 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its stake in shares of Halliburton by 3.1% during the second quarter. Guinness Atkinson Asset Management Inc now owns 10,847 shares of the oilfield services company’s stock valued at $366,000 after purchasing an additional 330 shares during the period. Moody National Bank Trust Division grew its holdings in shares of Halliburton by 2.9% in the second quarter. Moody National Bank Trust Division now owns 11,842 shares of the oilfield services company’s stock worth $400,000 after purchasing an additional 336 shares during the last quarter. Finally, Northwest Bank & Trust Co increased its stake in Halliburton by 3.2% in the 3rd quarter. Northwest Bank & Trust Co now owns 12,979 shares of the oilfield services company’s stock worth $377,000 after buying an additional 397 shares during the period. 85.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Susquehanna dropped their target price on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating on the stock in a research note on Friday, November 8th. Jefferies Financial Group decreased their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Barclays dropped their price target on Halliburton from $47.00 to $43.00 and set an “overweight” rating on the stock in a research report on Friday, November 8th. Wells Fargo & Company decreased their price objective on Halliburton from $46.00 to $39.00 and set an “overweight” rating for the company in a report on Wednesday, September 25th. Finally, Bank of America cut their price objective on shares of Halliburton from $40.00 to $38.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Halliburton presently has a consensus rating of “Moderate Buy” and an average target price of $40.74.

Halliburton Stock Performance

NYSE:HAL opened at $31.94 on Friday. The company has a market cap of $28.06 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 3.92 and a beta of 1.89. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. Halliburton has a 52 week low of $27.26 and a 52 week high of $41.56. The company has a fifty day simple moving average of $29.45 and a two-hundred day simple moving average of $32.00.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. Halliburton’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS. As a group, equities analysts anticipate that Halliburton will post 3.01 earnings per share for the current fiscal year.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

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.