Halliburton (NYSE:HAL) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Halliburton (NYSE:HALGet Rating) announced its quarterly earnings data on Tuesday. The oilfield services company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01, RTT News reports. The company had revenue of $4.28 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Halliburton had a return on equity of 16.76% and a net margin of 9.53%. Halliburton’s revenue for the quarter was up 24.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS.

NYSE HAL opened at $41.64 on Tuesday. The company has a current ratio of 2.31, a quick ratio of 1.76 and a debt-to-equity ratio of 1.36. Halliburton has a 1-year low of $17.82 and a 1-year high of $42.25. The company has a 50 day moving average of $35.94 and a 200-day moving average of $28.97. The company has a market cap of $37.50 billion, a price-to-earnings ratio of 25.55 and a beta of 2.42.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 23rd. Stockholders of record on Wednesday, March 2nd were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Halliburton’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, March 1st. Halliburton’s payout ratio is presently 29.45%.

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Halliburton from $30.00 to $40.00 and gave the company an “equal weight” rating in a report on Thursday, March 31st. Stephens lifted their price target on Halliburton from $36.00 to $38.00 and gave the stock an “overweight” rating in a report on Tuesday, January 25th. TheStreet upgraded Halliburton from a “c” rating to a “b-” rating in a report on Monday, January 24th. Susquehanna lifted their price target on Halliburton from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, January 25th. Finally, Susquehanna Bancshares lifted their price target on Halliburton from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, January 25th. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Halliburton currently has an average rating of “Buy” and a consensus price target of $31.44.

In related news, VP Timothy Mckeon sold 4,900 shares of Halliburton stock in a transaction that occurred on Thursday, April 14th. The shares were sold at an average price of $41.00, for a total value of $200,900.00. Following the transaction, the vice president now directly owns 43,782 shares of the company’s stock, valued at $1,795,062. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 58,600 shares of Halliburton stock in a transaction that occurred on Tuesday, April 12th. The shares were sold at an average price of $40.00, for a total transaction of $2,344,000.00. Following the completion of the transaction, the chief executive officer now directly owns 850,421 shares in the company, valued at $34,016,840. The disclosure for this sale can be found here. Over the last quarter, insiders sold 316,272 shares of company stock valued at $11,582,682. 0.61% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of HAL. JustInvest LLC grew its stake in shares of Halliburton by 29.1% in the fourth quarter. JustInvest LLC now owns 20,597 shares of the oilfield services company’s stock worth $471,000 after purchasing an additional 4,644 shares during the last quarter. Forum Financial Management LP acquired a new position in Halliburton in the fourth quarter valued at $315,000. Virtu Financial LLC acquired a new position in Halliburton in the fourth quarter valued at $341,000. Kingsview Wealth Management LLC lifted its holdings in Halliburton by 4.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 12,719 shares of the oilfield services company’s stock valued at $291,000 after buying an additional 529 shares during the period. Finally, Toroso Investments LLC raised its holdings in shares of Halliburton by 111.0% during the fourth quarter. Toroso Investments LLC now owns 20,198 shares of the oilfield services company’s stock valued at $462,000 after purchasing an additional 10,627 shares during the period. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

Halliburton Company Profile (Get Rating)

Halliburton Company provides products and services to the energy industry worldwide. It operates in two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

Further Reading

Earnings History for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.