Griffin Securities Weighs in on Halliburton’s Q1 2019 Earnings (HAL)
Halliburton (NYSE:HAL) – Griffin Securities decreased their Q1 2019 earnings per share estimates for shares of Halliburton in a report released on Wednesday, November 14th. Griffin Securities analyst K. Simpson now forecasts that the oilfield services company will earn $0.38 per share for the quarter, down from their previous estimate of $0.39. Griffin Securities also issued estimates for Halliburton’s Q2 2019 earnings at $0.48 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.10 EPS and FY2020 earnings at $2.90 EPS.
Several other research analysts have also recently weighed in on the stock. Morgan Stanley started coverage on shares of Halliburton in a report on Tuesday, September 18th. They set an “overweight” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. set a $60.00 price objective on shares of Halliburton and gave the company a “buy” rating in a report on Monday, September 17th. Credit Suisse Group set a $51.00 target price on shares of Halliburton and gave the company a “buy” rating in a report on Thursday, September 6th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a report on Friday, September 7th. Finally, Zacks Investment Research raised shares of Halliburton from a “strong sell” rating to a “hold” rating in a report on Monday, September 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. Halliburton has an average rating of “Buy” and a consensus price target of $51.60.
Halliburton (NYSE:HAL) last issued its earnings results on Monday, October 22nd. The oilfield services company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.01. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. The firm had revenue of $6.17 billion for the quarter, compared to the consensus estimate of $6.10 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Investment Partners LTD. bought a new position in shares of Halliburton during the third quarter worth $249,000. Avestar Capital LLC boosted its position in shares of Halliburton by 1,159.6% during the second quarter. Avestar Capital LLC now owns 2,368 shares of the oilfield services company’s stock worth $105,000 after acquiring an additional 2,180 shares during the last quarter. Sun Life Financial INC boosted its position in shares of Halliburton by 1,170.1% during the second quarter. Sun Life Financial INC now owns 2,375 shares of the oilfield services company’s stock worth $107,000 after acquiring an additional 2,188 shares during the last quarter. Honkamp Krueger Financial Services Inc. bought a new position in shares of Halliburton during the third quarter worth $103,000. Finally, Whitener Capital Management Inc. bought a new position in shares of Halliburton during the third quarter worth $106,000. 79.70% of the stock is owned by hedge funds and other institutional investors.
In other news, insider James S. Brown sold 15,989 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Anne L. Beaty sold 1,210 shares of the stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $36.23, for a total transaction of $43,838.30. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 27th. Stockholders of record on Thursday, December 6th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.22%. Halliburton’s dividend payout ratio (DPR) is presently 59.02%.
Halliburton Company Profile
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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