Insiders and Executives are Selling These 5 Oil Stocks

3. Halliburton Company (NYSE:HAL)

Number of Hedge Fund Holders: 43

Halliburton Company (NYSE:HAL) operates in the energy sector as an oil field service company. According to Insider Monkey’s data, 194,700 Halliburton Company (NYSE:HAL) shares were sold off by insiders from March 1 to March 11, and the prominent sellers were the company’s executive vice president and CFO, as well as the presidents of the Eastern and Western Hemisphere, namely Lance Loeffler, Joe Rainey, and Mark Richard. 

On January 24, Halliburton Company (NYSE:HAL) reported its Q4 results, posting earnings per share of $0.36, surpassing estimates by $0.02. The $4.28 billion revenue gained 32.13% year-over-year, topping market consensus by $191.50 million. 

RBC Capital analyst Keith Mackey on January 25 raised the price target on Halliburton Company (NYSE:HAL) to $34 from $32 and kept an Outperform rating on the shares. The company’s Q4 results exceeded expectations on most key metrics, and Halliburton Company (NYSE:HAL) increased its dividend earlier than expected, which suggests the management’s confidence in expanding its margins while controlling capital expenditure, the analyst told investors in a bullish thesis.

A total of 43 hedge funds held long positions in Halliburton Company (NYSE:HAL) at the end of December 2021, up from 29 funds in the quarter prior. Pzena Investment Management is the biggest shareholder of the company, with 38.6 million shares worth $883.35 million.