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

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

Halliburton Price Performance

Shares of NYSE HAL traded up $0.07 during mid-day trading on Wednesday, hitting $38.66. 3,419,399 shares of the company’s stock traded hands, compared to its average volume of 7,098,513. The company’s 50-day moving average is $37.66 and its two-hundred day moving average is $37.39. 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 P/E ratio of 13.17, a PEG ratio of 0.99 and a beta of 2.00. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HAL shares. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Monday. UBS Group upped their target price on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 target price on shares of Halliburton in a report on Wednesday, January 24th. TD Cowen upped their target price on shares of Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their target price on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $48.59.

Insider Buying and Selling

In other news, 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 transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the 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 transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.