Halliburton (NYSE:HAL) Posts Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Halliburton reported a quarterly earnings per share (EPS) of $0.58, surpassing analysts' expectations of $0.50 by $0.08.
• The company's revenue reached $5.60 billion, exceeding forecasted estimates of $5.39 billion.
• Halliburton has announced a quarterly dividend of $0.17 with an annualized yield of 3.0%, reflecting a dividend payout ratio of 31.78%.

Halliburton (NYSE:HAL - Get Free Report) issued its quarterly earnings data on Tuesday. The oilfield services company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.08, Zacks reports. The business had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.39 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.

Halliburton Stock Up 1.6%

Shares of HAL stock opened at $22.63 on Tuesday. The stock has a market cap of $19.30 billion, a P/E ratio of 10.58 and a beta of 1.02. The stock has a fifty day moving average price of $22.68 and a 200 day moving average price of $21.67. Halliburton has a one year low of $18.72 and a one year high of $32.57. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.00 and a quick ratio of 1.47.

Halliburton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. Halliburton's dividend payout ratio (DPR) is 31.78%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Bank of America increased their price objective on Halliburton from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, October 14th. Royal Bank Of Canada increased their price objective on Halliburton from $24.00 to $26.00 and gave the company a "sector perform" rating in a report on Thursday, October 9th. Melius initiated coverage on Halliburton in a research note on Wednesday, August 20th. They set a "buy" rating and a $41.00 target price for the company. The Goldman Sachs Group lifted their price target on Halliburton from $23.00 to $25.00 and gave the stock a "buy" rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Halliburton in a research report on Wednesday, October 8th. Fourteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $30.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in HAL. AQR Capital Management LLC lifted its holdings in shares of Halliburton by 85.5% during the second quarter. AQR Capital Management LLC now owns 8,610,870 shares of the oilfield services company's stock valued at $175,490,000 after acquiring an additional 3,969,759 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Halliburton by 56.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,854,651 shares of the oilfield services company's stock valued at $37,798,000 after acquiring an additional 667,336 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Halliburton by 29.1% during the second quarter. Ameriprise Financial Inc. now owns 2,133,657 shares of the oilfield services company's stock valued at $43,484,000 after acquiring an additional 481,440 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Halliburton by 4,652.1% during the second quarter. Brevan Howard Capital Management LP now owns 460,952 shares of the oilfield services company's stock valued at $9,394,000 after acquiring an additional 451,252 shares during the period. Finally, Ieq Capital LLC lifted its holdings in shares of Halliburton by 250.8% during the second quarter. Ieq Capital LLC now owns 582,148 shares of the oilfield services company's stock valued at $11,864,000 after acquiring an additional 416,183 shares during the period. 85.23% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.