Halliburton (NYSE:HAL) Announces Earnings Results

Halliburton (NYSE:HAL - Get Free Report) posted its earnings results on Tuesday. The oilfield services company reported $0.55 earnings per share for the quarter, hitting analysts' consensus estimates of $0.55, Zacks reports. Halliburton had a return on equity of 21.45% and a net margin of 8.37%. The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.43 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The business's revenue for the quarter was down 5.5% on a year-over-year basis.

Halliburton Stock Performance

Shares of NYSE HAL traded up $0.44 during midday trading on Thursday, hitting $22.41. 13,224,598 shares of the stock traded hands, compared to its average volume of 13,789,785. The firm has a 50-day moving average of $21.17 and a two-hundred day moving average of $23.31. The firm has a market capitalization of $19.27 billion, a P/E ratio of 10.47, a PEG ratio of 3.43 and a beta of 1.13. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.46 and a current ratio of 2.00. Halliburton has a one year low of $18.72 and a one year high of $34.97.

Halliburton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $0.68 annualized dividend and a dividend yield of 3.03%. Halliburton's payout ratio is 28.45%.

Hedge Funds Weigh In On Halliburton

Several hedge funds and other institutional investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Halliburton by 7.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 92,754 shares of the oilfield services company's stock valued at $2,353,000 after buying an additional 6,507 shares during the period. Focus Partners Wealth lifted its position in Halliburton by 25.0% during the first quarter. Focus Partners Wealth now owns 52,045 shares of the oilfield services company's stock valued at $1,320,000 after purchasing an additional 10,408 shares in the last quarter. Woodline Partners LP lifted its position in Halliburton by 39.0% during the first quarter. Woodline Partners LP now owns 73,341 shares of the oilfield services company's stock valued at $1,861,000 after purchasing an additional 20,583 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Halliburton during the first quarter valued at $895,000. Finally, Intech Investment Management LLC lifted its position in Halliburton by 309.1% during the first quarter. Intech Investment Management LLC now owns 68,946 shares of the oilfield services company's stock valued at $1,749,000 after purchasing an additional 52,092 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HAL has been the topic of a number of research analyst reports. Stifel Nicolaus reduced their target price on Halliburton from $31.00 to $29.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group cut their price target on Halliburton from $21.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday. Royal Bank Of Canada cut their price target on Halliburton from $28.00 to $24.00 and set a "sector perform" rating on the stock in a research note on Wednesday. Morgan Stanley cut their price target on Halliburton from $34.00 to $28.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Finally, Hsbc Global Res upgraded Halliburton to a "hold" rating in a research note on Wednesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Halliburton presently has an average rating of "Moderate Buy" and a consensus target price of $31.61.

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.