Argus Investors Counsel Inc. Has $1.27 Million Stock Holdings in Halliburton (NYSE:HAL)
Argus Investors Counsel Inc. boosted its stake in shares of Halliburton (NYSE:HAL) by 154.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,000 shares of the oilfield services company’s stock after purchasing an additional 34,000 shares during the period. Argus Investors Counsel Inc.’s holdings in Halliburton were worth $1,273,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Ellis Investment Partners LLC acquired a new position in Halliburton during the first quarter valued at approximately $25,000. Paragon Capital Management LLC bought a new stake in Halliburton in the first quarter valued at approximately $29,000. American Research & Management Co. bought a new stake in Halliburton in the first quarter valued at approximately $29,000. Barnett & Company Inc. bought a new stake in Halliburton in the first quarter valued at approximately $29,000. Finally, Mascoma Wealth Management LLC bought a new stake in Halliburton in the first quarter valued at approximately $30,000. 77.43% of the stock is owned by hedge funds and other institutional investors.
Halliburton stock traded up $0.10 during mid-day trading on Tuesday, reaching $23.84. 17,550,764 shares of the company were exchanged, compared to its average volume of 11,240,898. The firm’s fifty day simple moving average is $22.51. Halliburton has a 12 month low of $20.98 and a 12 month high of $42.89. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 1.07. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 2.83 and a beta of 1.30.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.72 dividend on an annualized basis and a yield of 3.02%. Halliburton’s dividend payout ratio (DPR) is presently 37.89%.
Several analysts have issued reports on HAL shares. Edward Jones lowered Halliburton from a “buy” rating to a “hold” rating in a research note on Monday, June 10th. SunTrust Banks set a $75.00 price objective on Cimarex Energy and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Cowen restated a “buy” rating and issued a $32.00 price objective on shares of Allegheny Technologies in a research note on Tuesday. Morgan Stanley set a $207.00 price objective on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. Finally, Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $41.58.
Halliburton Company 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 bonding the well, well casing, and casing equipment.
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