Argyle Capital Management Inc. Buys 1,000 Shares of Halliburton Company (HAL)
Argyle Capital Management Inc. increased its stake in Halliburton Company (NYSE:HAL) by 1.9% during the second quarter, Holdings Channel reports. The firm owned 54,950 shares of the oilfield services company’s stock after buying an additional 1,000 shares during the period. Argyle Capital Management Inc.’s holdings in Halliburton were worth $2,347,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in HAL. Atria Investments LLC increased its stake in shares of Halliburton by 14.1% in the first quarter. Atria Investments LLC now owns 12,094 shares of the oilfield services company’s stock valued at $595,000 after buying an additional 1,496 shares during the period. Skylands Capital LLC increased its stake in shares of Halliburton by 22.3% in the first quarter. Skylands Capital LLC now owns 123,500 shares of the oilfield services company’s stock valued at $6,077,000 after buying an additional 22,550 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Halliburton during the first quarter valued at about $583,000. Tompkins Financial Corp bought a new stake in shares of Halliburton during the first quarter valued at about $163,000. Finally, Viking Fund Management LLC increased its stake in shares of Halliburton by 3.7% in the first quarter. Viking Fund Management LLC now owns 560,000 shares of the oilfield services company’s stock valued at $27,558,000 after buying an additional 20,000 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.
Halliburton Company (NYSE HAL) opened at 39.91 on Tuesday. Halliburton Company has a one year low of $39.75 and a one year high of $58.78. The stock’s market cap is $34.79 billion. The stock’s 50 day moving average price is $42.59 and its 200-day moving average price is $47.52.
Halliburton (NYSE:HAL) last posted its quarterly earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.05. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.86 billion. During the same quarter in the prior year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. On average, analysts predict that Halliburton Company will post $1.12 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 6th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Friday, September 1st. Halliburton’s dividend payout ratio is currently -423.50%.
Several analysts recently issued reports on HAL shares. HSBC Holdings plc started coverage on Halliburton in a report on Wednesday, April 19th. They issued a “buy” rating and a $65.00 price target on the stock. Deutsche Bank AG cut their price target on Halliburton from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Tuesday, April 25th. BMO Capital Markets set a $65.00 price target on Halliburton and gave the stock a “buy” rating in a report on Monday, April 24th. Jefferies Group LLC set a $69.00 price target on Halliburton and gave the stock a “buy” rating in a report on Monday, April 24th. Finally, Cowen and Company cut their price target on Halliburton from $59.00 to $54.00 and set a “market perform” rating on the stock in a report on Wednesday, April 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $59.60.
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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