Halliburton (HAL) Shares Up 1.2% Following Earnings Beat
Shares of Halliburton Company (NYSE:HAL) shot up 1.2% during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $56.45 and last traded at $57.06. 8,638,685 shares changed hands during trading, a decline of 11% from the average session volume of 9,751,735 shares. The stock had previously closed at $56.40.
The oilfield services company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.07. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.63 billion. Halliburton had a return on equity of 6.93% and a net margin of 1.13%. The firm’s revenue was up 47.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.04 earnings per share.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 7th were issued a $0.18 dividend. The ex-dividend date was Wednesday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.27%. Halliburton’s dividend payout ratio is currently 300.00%.
In other news, Chairman David J. Lesar sold 50,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.70, for a total transaction of $2,185,000.00. Following the transaction, the chairman now directly owns 490,143 shares in the company, valued at approximately $21,419,249.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Anne L. Beaty sold 2,937 shares of the business’s stock in a transaction on Monday, January 8th. The shares were sold at an average price of $51.57, for a total transaction of $151,461.09. Following the transaction, the vice president now owns 60,839 shares in the company, valued at $3,137,467.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,612 shares of company stock worth $6,556,433. Corporate insiders own 0.47% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. grew its holdings in shares of Halliburton by 17.3% during the 3rd quarter. Brown Advisory Inc. now owns 56,745 shares of the oilfield services company’s stock valued at $2,612,000 after acquiring an additional 8,362 shares in the last quarter. Nippon Life Insurance Co. lifted its stake in shares of Halliburton by 28.9% in the 3rd quarter. Nippon Life Insurance Co. now owns 45,551 shares of the oilfield services company’s stock valued at $2,097,000 after purchasing an additional 10,218 shares during the last quarter. Segall Bryant & Hamill LLC lifted its stake in shares of Halliburton by 17.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 348,275 shares of the oilfield services company’s stock valued at $16,031,000 after purchasing an additional 50,932 shares during the last quarter. Check Capital Management Inc. CA lifted its stake in shares of Halliburton by 94.3% in the 3rd quarter. Check Capital Management Inc. CA now owns 13,702 shares of the oilfield services company’s stock valued at $631,000 after purchasing an additional 6,651 shares during the last quarter. Finally, Janney Capital Management LLC lifted its stake in shares of Halliburton by 19.0% in the 3rd quarter. Janney Capital Management LLC now owns 311,916 shares of the oilfield services company’s stock valued at $14,357,000 after purchasing an additional 49,872 shares during the last quarter. Institutional investors and hedge funds own 79.89% of the company’s stock.
The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.67 and a current ratio of 2.20. The firm has a market cap of $49,590.00, a P/E ratio of 236.79, a PEG ratio of 2.94 and a beta of 1.03.
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Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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