Contravisory Investment Management Inc. Makes New Investment in Halliburton Company $HAL

Contravisory Investment Management Inc. acquired a new stake in Halliburton Company (NYSE:HAL) during the fourth quarter, Holdings Channel.com reports. The fund acquired 37,300 shares of the oilfield services company’s stock, valued at approximately $1,054,000.

Other hedge funds have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Halliburton by 7.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company’s stock worth $2,353,000 after acquiring an additional 6,507 shares during the last quarter. Woodline Partners LP boosted its stake in Halliburton by 39.0% during the 1st quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company’s stock valued at $1,861,000 after purchasing an additional 20,583 shares during the last quarter. Focus Partners Wealth increased its holdings in Halliburton by 25.0% during the 1st quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company’s stock worth $1,320,000 after purchasing an additional 10,408 shares in the last quarter. Intech Investment Management LLC increased its holdings in Halliburton by 309.1% during the 1st quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company’s stock worth $1,749,000 after purchasing an additional 52,092 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Halliburton in the first quarter worth approximately $895,000. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of Halliburton stock opened at $37.48 on Tuesday. The business’s fifty day simple moving average is $34.47 and its 200 day simple moving average is $29.08. The firm has a market capitalization of $31.39 billion, a P/E ratio of 24.82, a price-to-earnings-growth ratio of 2.19 and a beta of 0.73. Halliburton Company has a 12 month low of $18.72 and a 12 month high of $37.79. The company has a current ratio of 2.04, a quick ratio of 1.51 and a debt-to-equity ratio of 0.68.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Wednesday, January 21st. The oilfield services company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. Halliburton had a return on equity of 19.77% and a net margin of 5.78%.The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company earned $0.73 EPS. The business’s revenue for the quarter was up .8% on a year-over-year basis. As a group, analysts anticipate that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be given a dividend of $0.17 per share. The ex-dividend date is Wednesday, March 4th. This represents a $0.68 annualized dividend and a yield of 1.8%. Halliburton’s dividend payout ratio is presently 45.03%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus set a $36.00 target price on Halliburton in a research report on Thursday, January 22nd. UBS Group raised their price objective on Halliburton from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, January 23rd. Citigroup lifted their price objective on shares of Halliburton from $33.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Piper Sandler upped their target price on shares of Halliburton from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 28th. Finally, Evercore upgraded shares of Halliburton from an “in-line” rating to an “outperform” rating and set a $42.00 target price for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.67.

Insider Buying and Selling at Halliburton

In related news, VP Timothy Mckeon sold 3,846 shares of Halliburton stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $34.37, for a total value of $132,187.02. Following the sale, the vice president owned 81,631 shares of the company’s stock, valued at approximately $2,805,657.47. The trade was a 4.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Jeffrey Shannon Slocum sold 5,441 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $33.82, for a total value of $184,014.62. Following the transaction, the chief operating officer directly owned 187,423 shares of the company’s stock, valued at approximately $6,338,645.86. This trade represents a 2.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 357,053 shares of company stock valued at $12,178,682 in the last three months. 0.56% of the stock is owned by corporate insiders.

About Halliburton

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.