Aristotle Atlantic Partners, LLC, an investment advisor, released its “Core Equity Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund posted a return of -4.92% gross of fees compared to -4.88% return for the S&P 500 Index. The fund’s underperformance in the quarter was primarily because of the stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Atlantic highlighted stocks like Halliburton Company (NYSE:HAL) in the Q3 2022 investor letter. Headquartered in Houston, Texas, Halliburton Company (NYSE:HAL) is a global provider of products and services to the energy industry. On November 23, 2022, Halliburton Company (NYSE:HAL) stock closed at $36.56 per share. One-month return of Halliburton Company (NYSE:HAL) was 0.80% and its shares gained 57.45% of their value over the last 52 weeks. Halliburton Company (NYSE:HAL) has a market capitalization of $33.198 billion.
Aristotle Atlantic made the following comment about Halliburton Company (NYSE:HAL) in its Q3 2022 investor letter:
“Halliburton Company (NYSE:HAL) provides energy, engineering and construction services and is a manufacturer of products for the energy industry. The company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas. Halliburton operates two business segments: Completion & Production and Drilling & Evaluation.
Our conviction in longer-term operating leverage is supported by the focus on improving cost structures. Upstream oil and gas spending over the longer term can benefit Exploration & Production (E&P) firms from sustained high oil and gas prices and a renewed urgency in global energy security. We believe the rightsizing of the company’s cost structure and forward focus on margins at the same time as E&Ps respond to new investment signals will drive both topline and bottom-line growth.”
Photo by David Thielen on Unsplash
Halliburton Company (NYSE:HAL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Halliburton Company (NYSE:HAL) at the end of the third quarter, which was 43 in the previous quarter.
We discussed Halliburton Company (NYSE:HAL) in another article and shared the best long term growth stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2022 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.
