Halliburton Company (HAL) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Halliburton Company (NYSE:HAL) released its earnings results on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.05, Morningstar.com reports. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. Halliburton’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.14) EPS.

Shares of Halliburton (NYSE:HAL) traded up 0.78% during trading on Friday, hitting $38.99. The stock had a trading volume of 8,868,248 shares. The stock’s market cap is $33.98 billion. Halliburton has a 12-month low of $38.18 and a 12-month high of $58.78. The stock’s 50-day moving average is $42.27 and its 200-day moving average is $47.14.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.85%. Halliburton’s dividend payout ratio (DPR) is presently -423.50%.

A number of hedge funds have recently made changes to their positions in HAL. Checchi Capital Advisers LLC boosted its stake in shares of Halliburton by 8.9% in the first quarter. Checchi Capital Advisers LLC now owns 8,631 shares of the oilfield services company’s stock worth $425,000 after buying an additional 707 shares during the period. Marietta Investment Partners LLC boosted its stake in shares of Halliburton by 84.4% in the first quarter. Marietta Investment Partners LLC now owns 29,923 shares of the oilfield services company’s stock worth $1,473,000 after buying an additional 13,693 shares during the period. Trexquant Investment LP boosted its stake in shares of Halliburton by 18.1% in the first quarter. Trexquant Investment LP now owns 19,600 shares of the oilfield services company’s stock worth $965,000 after buying an additional 3,000 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Halliburton by 3.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 750,981 shares of the oilfield services company’s stock worth $36,956,000 after buying an additional 24,253 shares during the period. Finally, Shell Asset Management Co. boosted its stake in shares of Halliburton by 62.2% in the first quarter. Shell Asset Management Co. now owns 144,957 shares of the oilfield services company’s stock worth $7,133,000 after buying an additional 55,595 shares during the period. 78.54% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently commented on HAL. Cowen and Company decreased their target price on Halliburton from $59.00 to $54.00 and set a “market perform” rating for the company in a report on Wednesday, April 26th. Jefferies Group LLC set a $69.00 target price on Halliburton and gave the company a “buy” rating in a report on Monday, April 24th. BMO Capital Markets set a $65.00 target price on Halliburton and gave the company a “buy” rating in a report on Monday, April 24th. Deutsche Bank AG reduced their price target on Halliburton from $64.00 to $57.00 and set a “buy” rating on the stock in a research note on Tuesday, April 25th. Finally, Seaport Global Securities raised Halliburton from a “neutral” rating to a “buy” rating and upped their price target for the stock from $43.00 to $50.00 in a research note on Thursday, July 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $59.60.

TRADEMARK VIOLATION NOTICE: This piece was first reported by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark & copyright legislation. The legal version of this piece can be read at https://www.com-unik.info/2017/08/19/halliburton-company-hal-posts-quarterly-earnings-results-beats-estimates-by-0-05-eps-updated-updated-updated.html.

About Halliburton

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.

Earnings History for Halliburton (NYSE:HAL)

What are top analysts saying about Halliburton Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Halliburton Company and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit