Halliburton Co. (HAL) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS
Halliburton Co. (NYSE:HAL) announced its quarterly earnings results on Wednesday. The oilfield services company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.87 billion. Halliburton had a negative net margin of 30.50% and a positive return on equity of 3.55%.
Halliburton (NYSE:HAL) opened at 47.07 on Wednesday. The stock has a 50 day moving average price of $43.84 and a 200 day moving average price of $42.79. Halliburton has a 12 month low of $27.64 and a 12 month high of $47.96. The firm’s market cap is $40.53 billion.
A number of equities research analysts have issued reports on HAL shares. Vetr raised shares of Halliburton from a “hold” rating to a “buy” rating and set a $42.96 price target on the stock in a report on Tuesday, September 27th. Citigroup Inc. reaffirmed a “buy” rating on shares of Halliburton in a research note on Wednesday, August 3rd. Zacks Investment Research lowered shares of Halliburton from a “buy” rating to a “hold” rating in a research note on Friday, October 14th. Jefferies Group set a $56.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Wednesday, July 20th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $54.00 target price (up previously from $45.00) on shares of Halliburton in a research note on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.30.
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In other Halliburton news, insider James S. Brown sold 28,439 shares of the business’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $47.00, for a total value of $1,336,633.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.46% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of HAL. FMR LLC increased its stake in Halliburton by 40.1% in the second quarter. FMR LLC now owns 13,373,769 shares of the oilfield services company’s stock valued at $605,699,000 after buying an additional 3,829,088 shares during the period. Capital World Investors increased its stake in Halliburton by 13.4% in the second quarter. Capital World Investors now owns 29,055,680 shares of the oilfield services company’s stock valued at $1,315,932,000 after buying an additional 3,440,198 shares during the period. Waddell & Reed Financial Inc. increased its stake in Halliburton by 11.9% in the second quarter. Waddell & Reed Financial Inc. now owns 18,587,275 shares of the oilfield services company’s stock valued at $841,818,000 after buying an additional 1,981,618 shares during the period. American Century Companies Inc. increased its stake in Halliburton by 40.2% in the second quarter. American Century Companies Inc. now owns 6,259,138 shares of the oilfield services company’s stock valued at $283,476,000 after buying an additional 1,794,884 shares during the period. Finally, Senator Investment Group LP bought a new stake in Halliburton during the second quarter valued at about $67,935,000. Hedge funds and other institutional investors own 79.74% of the company’s stock.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services.
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