Halliburton (NYSE:HAL) Announces Earnings Results, Beats Expectations By $0.02 EPS

Halliburton (NYSE:HAL) posted its quarterly earnings data on Tuesday. The oilfield services company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02, Briefing.com reports. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. Halliburton’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share.

Halliburton Stock Performance

Shares of NYSE HAL traded up $0.07 during trading on Wednesday, reaching $38.66. 3,419,399 shares of the company traded hands, compared to its average volume of 7,098,513. The stock has a market cap of $34.27 billion, a P/E ratio of 13.17, a PEG ratio of 0.99 and a beta of 2.00. The firm’s fifty day simple moving average is $37.66 and its 200 day simple moving average is $37.39. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85.

Analysts Set New Price Targets

A number of analysts recently commented on HAL shares. Raymond James reduced their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. UBS Group upped their price target on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays dropped their price objective on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on Halliburton from $46.00 to $48.00 in a research note on Tuesday. Finally, TD Cowen increased their price target on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $48.59.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through 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; and 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.