Halliburton Company (HAL) Releases Earnings Results, Beats Estimates By $0.05 EPS
Halliburton Company (NYSE:HAL) issued its quarterly earnings data on Monday. 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. Halliburton had a negative net margin of 21.19% and a negative return on equity of 0.48%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.86 billion. During the same period last year, the company posted ($0.14) EPS. The company’s revenue was up 29.3% on a year-over-year basis.
Halliburton (HAL) opened at 44.38 on Monday. The firm’s market capitalization is $38.52 billion. The firm’s 50-day moving average is $43.66 and its 200-day moving average is $49.22. Halliburton has a 1-year low of $40.12 and a 1-year high of $58.78.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 27th. Shareholders of record on Wednesday, September 6th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Friday, September 1st. Halliburton’s payout ratio is -18.32%.
Several analysts have commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and issued a $64.00 target price (down from $66.00) on shares of Halliburton in a research note on Monday, March 27th. Seaport Global Securities lowered their target price on shares of Halliburton from $72.00 to $67.00 and set a “buy” rating for the company in a research note on Monday, March 27th. BMO Capital Markets set a $67.00 target price on shares of Halliburton and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $65.00 target price on shares of Halliburton in a research note on Monday, April 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $70.00 target price on shares of Halliburton in a research note on Monday, April 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Halliburton currently has an average rating of “Buy” and an average price target of $59.85.
In other news, Director William E. Albrecht bought 8,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average price of $46.33 per share, for a total transaction of $370,640.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $370,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.47% of the company’s stock.
Large investors have recently made changes to their positions in the company. Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Halliburton during the first quarter worth about $100,000. Perigon Wealth Management LLC purchased a new stake in shares of Halliburton during the fourth quarter worth about $109,000. Ledyard National Bank boosted its stake in shares of Halliburton by 1.1% in the first quarter. Ledyard National Bank now owns 2,319 shares of the oilfield services company’s stock worth $114,000 after buying an additional 25 shares during the period. Independent Portfolio Consultants Inc. boosted its stake in shares of Halliburton by 87.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,711 shares of the oilfield services company’s stock worth $116,000 after buying an additional 1,266 shares during the period. Finally, Tradewinds Capital Management LLC boosted its stake in shares of Halliburton by 1.2% in the first quarter. Tradewinds Capital Management LLC now owns 2,879 shares of the oilfield services company’s stock worth $142,000 after buying an additional 35 shares during the period. Institutional investors and hedge funds own 79.74% of the company’s stock.
Halliburton Company Profile
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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