Blume Capital Management Inc. boosted its position in Halliburton (NYSE:HAL) by 19.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,000 shares of the oilfield services company’s stock after buying an additional 12,450 shares during the quarter. Blume Capital Management Inc.’s holdings in Halliburton were worth $1,728,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in HAL. Ellis Investment Partners LLC acquired a new position in shares of Halliburton during the first quarter worth approximately $25,000. Paragon Capital Management LLC acquired a new stake in shares of Halliburton during the 1st quarter valued at $29,000. American Research & Management Co. acquired a new stake in shares of Halliburton during the 1st quarter valued at $29,000. Barnett & Company Inc. acquired a new stake in shares of Halliburton during the 1st quarter valued at $29,000. Finally, Asset Planning Services Ltd. lifted its position in shares of Halliburton by 903.2% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,254 shares of the oilfield services company’s stock valued at $29,000 after acquiring an additional 1,129 shares during the last quarter. 78.42% of the stock is owned by hedge funds and other institutional investors.
NYSE HAL opened at $18.25 on Friday. Halliburton has a 1-year low of $17.46 and a 1-year high of $42.57. The company has a current ratio of 2.26, a quick ratio of 1.59 and a debt-to-equity ratio of 1.16. The company has a market capitalization of $17.06 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 2.30 and a beta of 1.30. The firm’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $26.25.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend is Tuesday, September 3rd. Halliburton’s payout ratio is 37.89%.
A number of equities research analysts have recently commented on HAL shares. SunTrust Banks cut their price objective on Halliburton to $39.00 and set an “average” rating for the company in a research report on Tuesday, April 23rd. Morgan Stanley cut their price objective on Halliburton from $40.00 to $36.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Stephens cut their price objective on Halliburton from $45.00 to $35.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. ValuEngine downgraded shares of Halliburton from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 1st. Finally, Barclays cut their target price on shares of Halliburton from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $39.78.
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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