Halliburton (NYSE:HAL) Releases Earnings Results, Meets Estimates

Halliburton (NYSE:HAL) posted its quarterly earnings data on Tuesday. The oilfield services company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60, Zacks reports. Halliburton had a return on equity of 26.03% and a net margin of 10.90%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.28 billion.

Halliburton Trading Down 5.5 %

Shares of NYSE:HAL traded down $1.20 on Tuesday, reaching $20.72. 29,236,186 shares of the company traded hands, compared to its average volume of 9,823,214. Halliburton has a 52 week low of $18.72 and a 52 week high of $39.37. The company has a current ratio of 2.05, a quick ratio of 1.54 and a debt-to-equity ratio of 0.68. The business’s 50-day simple moving average is $24.18 and its 200 day simple moving average is $27.02. The stock has a market capitalization of $17.86 billion, a P/E ratio of 7.32, a price-to-earnings-growth ratio of 3.79 and a beta of 1.45.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a $0.17 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.28%. Halliburton’s payout ratio is 24.03%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HAL shares. Jefferies Financial Group lowered their target price on shares of Halliburton from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 price target on shares of Halliburton in a research note on Thursday, January 23rd. Raymond James downgraded Halliburton from a “strong-buy” rating to a “market perform” rating in a report on Monday, January 6th. Benchmark cut their target price on Halliburton from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Evercore ISI decreased their price target on shares of Halliburton from $43.00 to $35.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Halliburton has a consensus rating of “Moderate Buy” and a consensus price target of $36.95.

Insiders Place Their Bets

In related news, VP Timothy Mckeon sold 10,497 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $24.60, for a total value of $258,226.20. Following the sale, the vice president now directly owns 77,784 shares of the company’s stock, valued at $1,913,486.40. This represents a 11.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Eric Carre sold 141,206 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $26.13, for a total transaction of $3,689,712.78. Following the sale, the chief financial officer now owns 127,101 shares in the company, valued at approximately $3,321,149.13. This trade represents a 52.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 206,782 shares of company stock valued at $5,321,170 in the last ninety days. Company insiders own 0.61% of the company’s stock.

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.