Contravisory Investment Management Inc. Makes New Investment in Halliburton (NYSE:HAL)


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Contravisory Investment Management Inc. acquired a new stake in Halliburton (NYSE:HAL) in the 1st quarter, HoldingsChannel reports. The fund acquired 299,327 shares of the oilfield services company’s stock, valued at approximately $6,424,000. Halliburton makes up 2.0% of Contravisory Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds also recently modified their holdings of the company. Hoover Financial Advisors Inc. purchased a new position in shares of Halliburton in the 4th quarter valued at about $27,000. Alpha DNA Investment Management LLC purchased a new position in shares of Halliburton in the 4th quarter valued at about $26,000. Crescent Capital Consulting LLC purchased a new position in shares of Halliburton in the 4th quarter valued at about $28,000. Prestige Wealth Management Group LLC increased its stake in shares of Halliburton by 67.2% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,839 shares of the oilfield services company’s stock valued at $35,000 after purchasing an additional 739 shares in the last quarter. Finally, Veriti Management LLC purchased a new stake in Halliburton during the 4th quarter worth approximately $35,000. 75.37% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have commented on the company. Northland Securities boosted their price objective on Halliburton from $15.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 20th. They noted that the move was a valuation call. Credit Suisse Group upped their price target on Halliburton from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, January 20th. Stephens upgraded Halliburton from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $14.00 to $25.00 in a research report on Wednesday, January 20th. Cowen upped their price target on Halliburton from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, January 20th. Finally, Royal Bank of Canada restated a “buy” rating and issued a $23.00 price target on shares of Halliburton in a research report on Wednesday, January 20th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. Halliburton currently has an average rating of “Buy” and a consensus price target of $18.48.

In related news, insider Myrtle L. Jones sold 5,462 shares of the stock in a transaction on Friday, March 5th. The stock was sold at an average price of $23.50, for a total value of $128,357.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.

Shares of NYSE HAL opened at $21.08 on Friday. The stock has a market cap of $18.73 billion, a P/E ratio of -4.24, a PEG ratio of 2.22 and a beta of 2.81. The company has a current ratio of 2.30, a quick ratio of 1.64 and a debt-to-equity ratio of 1.85. Halliburton has a 12-month low of $6.53 and a 12-month high of $24.74. The business’s fifty day simple moving average is $22.21 and its 200-day simple moving average is $18.31.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Monday, January 18th. The oilfield services company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.21 billion. Halliburton had a positive return on equity of 11.10% and a negative net margin of 26.60%. The company’s revenue for the quarter was down 37.6% compared to the same quarter last year. During the same period last year, the firm earned $0.32 earnings per share. On average, equities analysts forecast that Halliburton will post 0.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 24th. Investors of record on Wednesday, March 3rd were issued a $0.045 dividend. This represents a $0.18 annualized dividend and a yield of 0.85%. The ex-dividend date was Tuesday, March 2nd. Halliburton’s dividend payout ratio (DPR) is presently 14.52%.

Halliburton Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as well bonding and casing, as well as provides casing equipment.

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Institutional Ownership by Quarter for Halliburton (NYSE:HAL)

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