Halliburton (HAL) Releases Quarterly Earnings Results, Meets Estimates

Halliburton (NYSE:HAL) issued its quarterly earnings results on Monday. The oilfield services company reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23, MarketWatch Earnings reports. Halliburton had a return on equity of 18.57% and a net margin of 6.90%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue was down .1% on a year-over-year basis.

Shares of HAL stock traded down $0.04 during trading hours on Monday, reaching $31.10. 3,243,936 shares of the company traded hands, compared to its average volume of 8,108,804. Halliburton has a 12-month low of $24.70 and a 12-month high of $54.91. The company has a quick ratio of 1.69, a current ratio of 2.32 and a debt-to-equity ratio of 1.09. The stock has a market cap of $27.17 billion, a P/E ratio of 16.37, a PEG ratio of 1.66 and a beta of 1.17.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.32%. Halliburton’s payout ratio is currently 37.89%.

In other news, CFO Lance Loeffler sold 5,926 shares of Halliburton stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $28.35, for a total transaction of $168,002.10. Following the transaction, the chief financial officer now directly owns 55,885 shares of the company’s stock, valued at approximately $1,584,339.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.61% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Harris Associates L P bought a new position in shares of Halliburton during the 4th quarter valued at approximately $336,506,000. Norges Bank purchased a new stake in shares of Halliburton during the 4th quarter worth $236,595,000. Dodge & Cox lifted its stake in shares of Halliburton by 73,106.2% during the 3rd quarter. Dodge & Cox now owns 6,734,967 shares of the oilfield services company’s stock worth $272,968,000 after purchasing an additional 6,725,767 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of Halliburton by 344.0% during the 4th quarter. Toronto Dominion Bank now owns 4,612,880 shares of the oilfield services company’s stock worth $122,610,000 after purchasing an additional 3,573,882 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in shares of Halliburton by 15.7% during the 4th quarter. Macquarie Group Ltd. now owns 21,027,384 shares of the oilfield services company’s stock worth $558,907,000 after purchasing an additional 2,860,965 shares during the last quarter. 80.94% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the company. Barclays reduced their price objective on Halliburton from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, April 9th. Zacks Investment Research downgraded Halliburton from a “hold” rating to a “sell” rating in a report on Thursday, February 21st. UBS Group set a $40.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Stifel Nicolaus set a $36.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Tuesday, January 22nd. Finally, Royal Bank of Canada set a $48.00 price objective on Halliburton and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. Halliburton presently has an average rating of “Buy” and an average price target of $45.38.

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About Halliburton

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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Earnings History for Halliburton (NYSE:HAL)

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