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

Halliburton (NYSE:HAL) issued its earnings results on Tuesday. The oilfield services company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.02, Briefing.com reports. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same period in the previous year, the business earned $0.72 EPS. The firm’s revenue was up 2.2% on a year-over-year basis.

Halliburton Stock Up 0.3 %

Shares of Halliburton stock traded up $0.12 during trading on Wednesday, reaching $38.71. 3,842,512 shares of the company traded hands, compared to its average volume of 7,103,765. 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 50 day moving average price of $37.66 and a 200-day moving average price of $37.39. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The firm has a market capitalization of $34.31 billion, a PE ratio of 13.17, a P/E/G ratio of 0.99 and a beta of 2.00.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HAL. Raymond James decreased their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. UBS Group lifted their target price on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a research report on Wednesday, January 24th. Morgan Stanley boosted their price target on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Barclays reduced their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $48.59.

Insiders Place Their Bets

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