Halliburton (NYSE:HAL) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Halliburton (NYSE:HAL) released its quarterly earnings results 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. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period last year, the business posted $0.72 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year.

Halliburton Price Performance

NYSE HAL traded up $0.07 on Wednesday, hitting $38.66. The company had a trading volume of 3,617,871 shares, compared to its average volume of 7,098,513. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. The company has a market capitalization of $34.27 billion, a PE ratio of 13.17, a PEG ratio of 0.99 and a beta of 2.00. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The company’s fifty day moving average price is $37.66 and its 200-day moving average price is $37.39.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HAL shares. Raymond James cut their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Susquehanna reiterated a “positive” rating and set a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. Finally, Morgan Stanley lifted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $48.59.

Insider Activity

In other Halliburton news, 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated 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 transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. Company 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.