Halliburton Company (HAL) Benefited From Sharp Increase In Oil Prices

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, mid-cap stocks had negative returns, reversing their positive returns in the first half of the year. The Russell Midcap Growth Index was down 5.22% slightly trailing the Russell Midcap Value Index which was down 4.46%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like Halliburton Company (NYSE:HAL) in the Q1 2023 investor letter. Headquartered in Houston, Texas, Halliburton Company (NYSE:HAL) offers services and products to the energy industry. On October 26, 2023, Halliburton Company (NYSE:HAL) stock closed at $39.45 per share. One-month return of Halliburton Company (NYSE:HAL) was -2.59%, and its shares gained 9.74% of their value over the last 52 weeks. Halliburton Company (NYSE:HAL) has a market capitalization of $35.31 billion.

Carillon Eagle Mid Cap Growth Fund made the following comment about Halliburton Company (NYSE:HAL) in its Q3 2023 investor letter:

“Halliburton Company (NYSE:HAL) provides equipment and services to the global energy industry. The stock was an impressive outperformer in the quarter, as the recent sharp increase in oil prices should translate to healthy levels of North American shale activity in the remainder of the year and into 2024. Halliburton also is poised to benefit from the ongoing multi-year international and offshore upstream investment cycle.”

A drilling rig manned by engineers and oil field workers preparing to explore a new petroleum reservoir.

Halliburton Company (NYSE:HAL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Halliburton Company (NYSE:HAL) at the end of second quarter which was 43 in the previous quarter.

We discussed Halliburton Company (NYSE:HAL) in another article and shared the list of stocks whose price targets were recently raised by analysts. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.