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

Halliburton (NYSE:HAL) announced 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 30.84% and a net margin of 11.20%. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. During the same period in the prior year, the business posted $0.72 EPS. Halliburton’s revenue was up 2.2% on a year-over-year basis.

Halliburton Price Performance

NYSE:HAL opened at $38.72 on Friday. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $37.81 and a 200 day simple moving average of $37.41. The stock has a market capitalization of $34.32 billion, a PE ratio of 13.40, a P/E/G ratio of 1.00 and a beta of 2.00.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HAL shares. TD Cowen increased their target price on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. The Goldman Sachs Group increased their target price on Halliburton from $46.00 to $48.00 in a research note on Tuesday. Finally, Citigroup upped their price target on Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $48.82.

Insider Activity at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were 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 $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The shares were 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 directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Halliburton Company Profile

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.