|Bid||17.68 x 900|
|Ask||17.80 x 4000|
|Day's Range||17.66 - 18.58|
|52 Week Range||17.46 - 42.57|
|Beta (3Y Monthly)||1.65|
|PE Ratio (TTM)||11.68|
|Earnings Date||Oct 21, 2019 - Oct 25, 2019|
|Forward Dividend & Yield||0.72 (3.86%)|
|1y Target Est||32.15|
Halliburton employee Choon Lee is accused of installing the camera in a first-class restroom, where one female passenger noticed its blinking light, and installing another one on an Emirates flight.
(Bloomberg) -- A looming U.S. sanctions deadline is threatening to clobber Venezuela’s dwindling oil-rig fleet and hamper energy production in the nation with the world’s largest crude reserves.Almost half the rigs operating in Venezuela will shut down by Oct. 25 if the Trump administration doesn’t extend a 90-day waiver from its sanctions, according to data compiled from consultancy Caracas Capital Markets. That could further cripple the OPEC member’s production because the structures are needed to drill new wells crucial for even maintaining output, which is already near the lowest level since the 1940s.A shutdown in the rigs will also put pressure on Nicolas Maduro’s administration, which counts oil revenues as its main lifeline. The U.S. is betting on increased economic pressure to oust the regime and bring fresh elections to the crisis-torn nation, a founding member of the Organization of Petroleum Exporting Countries and Latin America’s biggest crude exporter until recent years.Venezuela had 23 oil rigs drilling in July, down from 49 just two years ago, data compiled by Baker Hughes show. Ten of those are exposed to U.S. sanctions, according to calculations by Caracas Capital Markets. The Treasury Department extended waivers in July for service providers to continue for three more months, less than the six months the companies had sought.Most other government agencies involved in the deliberations opposed any extension, a senior administration official said last month, adding that another reprieve will be harder to come by.“Almost half the rigs are being run by the Yanks, and if the window shuts down on this in two months, then that’s really going to hurt Venezuela unless the Russians and the Chinese come in,” said Russ Dallen, a Miami-based managing partner at Caracas Capital Markets.Output RiskA U.S. Treasury official said the department doesn’t generally comment on possible sanctions actions.More than 200,000 barrels a day of output at four projects Chevron Corp. is keeping afloat could shut if the waivers aren’t renewed. That would be debilitating to Maduro because the U.S. company, as a minority partner, only gets about 40,000 barrels a day of that production.The departure of the American oil service providers would hurt other projects in the Orinoco region, where operators need to constantly drill wells just to keep output from declining. The U.S.-based companies are also involved in state-controlled Petroleos de Venezuela SA’s joint ventures in other regions such as Lake Maracaibo.Limiting ExposureHalliburton Co., Schlumberger Ltd. and Weatherford International Ltd. have reduced staff and are limiting their exposure to the risk of non-payment in the country, according to people familiar with the situation. The three companies have written down a total of at least $1.4 billion since 2018 in charges related to operations in Venezuela, according to financial filings. Baker Hughes had also scaled back before additional sanctions were announced earlier this year, the people said.Schlumberger, Baker Hughes, Weatherford, PDVSA and Venezuela’s oil ministry all declined to comment.Halliburton has adjusted its Venezuela operations to customer activity, and continues operating all of its product service lines at its operational bases, including in the Orinoco Belt, it said in an emailed response to questions. It works directly with several of PDVSA’s joint ventures, and timely payments from customers are in accordance with U.S. regulations, it said.Hamilton, Bermuda-based Nabors Industries Ltd. has three drilling rigs in Venezuela that can operate for a client until the sanctions expire in October, Chief Executive Officer Anthony Petrello said in a July 30 conference call, without naming the client.The sanctions carry geopolitical risks for the U.S. If Maduro manages to hang on, American companies would lose a foothold in Venezuela, giving Russian competitors such as Rosneft Oil Co. a chance to fill the void. Chinese companies could also benefit. Even if the waivers get extended, the uncertainty hinders any long-term planning or investments in the nation by the exposed companies.Rosneft’s press office didn’t respond to phone calls and emails seeking comment on operations in Venezuela.\--With assistance from David Wethe, Debjit Chakraborty and Dina Khrennikova.To contact the reporters on this story: Peter Millard in Rio de Janeiro at email@example.com;Fabiola Zerpa in Caracas Office at firstname.lastname@example.orgTo contact the editors responsible for this story: Tina Davis at email@example.com, Pratish Narayanan, Joe RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Ormat Technologies (ORA) continues to develop geothermal projects across the globe. One of its wholly-owned unit enters into an agreement with a private investor for the McGinness Hills Phase 3 Plant.
Halliburton Company (HAL) announced today that it will present at the 2019 Barclays CEO Energy-Power Conference on Wednesday, September 4, 2019, at 9:05 AM Eastern Time. Founded in 1919, Halliburton celebrates its 100 years of service as one of the world's largest providers of products and services to the energy industry. Visit the Company’s website at www.halliburton.com.
Norwegian behemoth Equinor (EQNR) started oil production from the Mariner field in the UK North Sea, while British supermajor BP plc (BP) inked a new JV in India to set up 5,500 petrol pumps.
(Bloomberg Opinion) -- Standard & Poor’s(1), Moody’s and Fitch Ratings, the biggest credit-ratings companies, were major causative factors in the financial crisis. Even free-market acolyte Alan Greenspan admitted as much. Little has changed since then, other than that enough time has passed to allow investors to forget this fact.I have been following this issue since 2007, so here is a brief history.With the economy still sluggish after the dot-com crash and 9/11, the Federal Reserve slashed interest rates to 1%. Bond managers were under intense pressure to generate yield. This sent them on a mad scramble to find investment-grade debt with higher returns.This is where the credit raters come in. Moody’s and S&P (Fitch was a relatively small player) slapped investment grade ratings on securities backed by junk subprime loans because they were literally paid to do so by debt issuers. Issuers shopped for ratings -- if Moody’s refused to provide a desired grade, then S&P would (and vice versa). When it all went south, the debt raters made feeble attempts to claim their ratings were "opinions," or protected political speech under the First Amendment. These arguments failed, eventually leading to fines for their malfeasance. S&P paid $1.5 billion to settle with the U.S. and individual states; Moody’s paid a much smaller fine.In the aftermath of the financial crisis, regulators concluded that the way to fix the problem of the raters' conflict-riddled, issuer-pays model was to introduce more competition. But this market-based solution seems to be no better; because the newcomers are hungry for business, their ratings tend to be even laxer. If anything, the solution has only made the conflicts of interest more apparent. To fix this problem requires a radical rethink of the business model. Here are some things regulators should consider:• Sell ratings to bond buyers, not bond issuers: The ratings companies date back to the panic of 1837. The defaults and bank failures that followed led to creation of new businesses to help rate the debt of merchants. During the 19th century, investors in railroads paid for information on the quality of the bonds they were buying, which is how S&P and Moody's got their start. In the 1970s, the raters began the practice of charging issuers for their services, displacing the subscriber-pays model. That the investor-pays model once prevailed suggests that under the right conditions and with the right incentives it could work again.• Assign and rotate rating companies randomly: After the many accounting scandal of the early 2000s -- Cendant, Computer Associates, Enron, WorldCom, Tyco, Adelphia, AOL, Global Crossing, Halliburton and many more -- a number of reforms were made to the accounting industry. Included in the Sarbanes-Oxley Act was the establishment of the Public Company Accounting Oversight Board, or PCAOB. This established new standards for independence, created audit rules and mandated quality control. Perhaps most importantly, it required whoever the lead partner was on an audit to rotate off that project every five years, reducing the tendency of those who are supposed to work at arm's length from getting too cozy.(2) The incentive to cheat was replaced with a high probability of getting caught. The result has been a dearth of the kind of accounting frauds that were so common in the late 1990s and 2000s.• Eliminate the government stamp of approval: The credit raters were granted special government dispensations in 1975, setting them up as the official arbiters of corporate credit quality. This unique status created a moral hazard, with raters facing few consequences for their actions; it is also what enabled the structural problem in the first place. Compare this situation to the equity side: the dot-com implosion taught stock buyers not to rely on Wall Street analyst ratings, which exist (mostly) for the benefit of investment bankers, not investors.The financial crisis should have taught the same lesson to bond investors. But there's still the imprimatur of government credibility to fall back on. If we eliminate that special status, the structural problem should disappear. At the very least, there should be some form of legal liability for misleading ratings.• Create stronger capital reserve standards: This is a big part of the problem: Higher credit ratings give banks and other financial companies cover for holding less capital. If more specific capital requirements were mandated, the need for AAA ratings would change dramatically; ratings would be explicitly structured for the benefit of bond buyers, and not the needs of the borrowers. Today, the ratings serve as a way for issuers to engineer their way to lower borrowing costs.As the Financial Crisis Inquiry Commission concluded in its autopsy of the crisis: “The three credit-rating agencies were key enablers of the financial meltdown. The mortgage-related securities at the heart of the crisis could not have been marketed and sold without their seal of approval.”The ratings companies were broken in 2008; they are still broken today because post-crisis reforms didn't address the root problems. Don’t be surprised if it turns out that the credit raters provided some of the kindling the next time the financial system goes up in flames.(1) Disclosure: The original publisher of my book on the financial crisis, "Bailout Nation," was McGraw-Hill, which also owns S&P. After an editorialdisagreement about thechapter on the credit raters, including S&P, I withdrew my manuscript. The book was later published by Wiley.(2) Auditor rotation was abandoned under intense pressure from the accounting industry.To contact the author of this story: Barry Ritholtz at firstname.lastname@example.orgTo contact the editor responsible for this story: James Greiff at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Barry Ritholtz is a Bloomberg Opinion columnist. He founded Ritholtz Wealth Management and was chief executive and director of equity research at FusionIQ, a quantitative research firm. He is the author of “Bailout Nation.”For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Halliburton Company announced today that its board of directors has declared a 2019 third quarter dividend of eighteen cents a share on the Company’s common stock payable on September 25, 2019 to shareholders of record at the close of business on September 4, 2019.
Oil prices saw a significant spike on Tuesday morning as Washington announced that it would delay the 10 percent it had planned to place on some Chinese products
Oil prices fell to their lowest levels since January last week as trade war fears returned. Energy stocks fell in sympathy and remain one of the weakest sectors heading into the new week. Today we'll analyze the downside reversal and identify three energy stocks to sell.Source: Shutterstock The easiest way to spot the bears' emergence in oil stocks is by using the Energy Sector ETF (NYSEARCA:XLE). We saw downside momentum surge during last week's whack suggesting the downtrend should have staying power. Volume surged alongside the slide revealing mass distribution and an environment where rallies should be suspect. The mid-week recovery was cut short ahead of the weekend. Friday's bearish reversal candle is seeing follow through this morning making now a prime time to deploy short trades in the sector. * 10 Real Estate Investments to Ride Out the Current Storm I've scoured its constituents and discovered three high-quality stocks to sell. Let's take a closer look.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Conoco Phillips (COP)Source: ThinkorSwim ConocoPhillips (NYSE:COP) carries one of the best characteristics for bearish candidates: relative weakness. This year's descent has far outpaced the energy sector making it one of the weakest large-gaps in the space. Last week's plunge pushed COP stock to a 52-week low, and it's now down 14% year-to-date.Thursday's rally was quickly reversed on Friday showing just how fast sellers are to reject any strength. With all major moving averages pointing lower and buyers unable to muster together more than a one-day rally, the path of least resistance remains lower.To bank on further weakness, buy the Nov $55/$50 bear put spread for $2.20. The risk is limited to the initial cost, and the reward is $2.80. Schlumberger (SLB)Source: ThinkorSwim Schlumberger (NYSE:SLB) also slipped to a 52-week low last week and found itself down 5% year-to-date. While the damage isn't as severe as what we've seen in COP stock, SLB remains in a secular decline with countless failed rallies. Thursday's rebound attempt was pathetic and rapidly reversed by Friday's slide.I see zero reasons to be bullish here or fight the trend, which is pointing lower across all time frames.Implied volatility sits at a lofty 40% or the 56th percentile of its one-year range so short premium plays are attractive right now. This should allow us to build a cash flow trade with robust metrics. * 7 Large-Cap Stocks to Sell Right Now If you're willing to bet SLB sits below $35 at September expiration then sell the $35/$37.50 bear call spread for 70 cents. The reward is 70 cents, and the risk is $1.80. Halliburton (HAL)Source: ThinkorSwim Halliburton (NYSE:HAL) rounds out our trio of bearish beauties. From a performance perspective, it's the worst of the three with a year-to-date loss of 27%. It has been poison to portfolios. Last week's oil drop didn't just push HAL stock to a new 52-week low; it knocked to its lowest level since 2009.As you would expect with such atrocious performance, everything on the chart points to lower prices. The trend on all time frames is cruising lower, moving averages are falling, and relative weakness has followed the stock like a hellhound.Implied volatility is sky-high at the 77th percentile of its one-year range. To combat the expensiveness of option premiums, spreads are a must.Buy the Oct $20/$17.50 bear put spread for around $1.05. The risk is limited to $1.05, and the reward is limited to $1.95.As of this writing, Tyler Craig didn't hold positions in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 3 Energy Stocks to Sell Now appeared first on InvestorPlace.
Global equities are under renewed pressure after Friday when President Donald Trump threatened to pull out of further trade talks with China due to his frustration with their apparent lack of progress in buying United States agricultural products -- something Beijing allegedly promised during past meetings.Adding to the pressure was Trump's comments that the U.S. would not be doing business with major Chinese telecom giant Huawei.The pullback comes at a time of technical vulnerability for the market with the Dow Jones Industrial Average struggling to stay above its 200-day moving average. A breakdown here would put the June low below 25,000 in play which would be worth a loss of 6% from here. Energy stocks are among the industry groups showing the most weakness, despite ongoing tensions in the Persian Gulf, as traders account for the hit to prices as the global economy weakens.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Under $7 to Invest in Now Here are four oil and gas stocks leading the way down: Stocks to Sell: Chesapeake Energy (CHK)Chesapeake Energy (NYSE:CHK) stock is focused on the exploration and development of natural gas properties in the U.S. The company runs operations in key shale gas areas including the Eagle Ford basin in Texas. However, things are not looking good for Chesapeake Energy stock. Shares of CHK stock remain below their 50-day moving average and have dropped below the low set in early 2016. This marks a loss of more than 50% from the highs set earlier this year. And, analysts at Raymond James recently downgraded shares.The company will next report results Oct. 29 before the bell. Analysts are looking for a loss of 6 cents per share on revenues of $1.2 billion. When the company last reported Aug.6, a loss of 10 cents per share missed estimates by 7 cents on a 5.1% rise in revenues. Transocean (RIG)Shares of deepwater drilling services provider Transocean (NYSE:RIG) stock are breaking down to fresh lows, making a waterfall decline of more than two-thirds from the high set late last year, as companies pull back on high-cost deepwater exploration. Shares were recently downgraded by analysts at Citigroup, adding to the company's woes. * 8 Dividend Aristocrat Stocks to Buy Now No Matter What RIG stock will next report results Oct. 28 after the close. Analysts are looking for a loss of 34 cents per share on revenues of $771.5 million. When the company last reported July 29, a loss of 34 cents per share matched estimates on a 4.1% decline in revenues. Halliburton (HAL)Shares of oilfield services provider Halliburton (NYSE:HAL) stock are breaking down to new lows, returning to levels not seen since 2010 to mark a decline of nearly two-thirds from the highs set early last year. This drop comes despite an upgrade by Cowen analysts, reflecting what they see as profitability potential. But bottom-line growth is hard to create when the top line is being compressed by lower energy prices.The company will next report results Oct. 21 before the bell. Analysts are looking for earnings of 37 cents per share on revenues of $5.9 billion. When the company last reported July 22, earnings of 35 cents per share beat estimates by 5 cents on a 3.5% decline in revenues. Exxon Mobil (XOM)Shares of Exxon Mobil (NYSE:XOM) stock are threatening to fall below their late-May lows to return to the trading range set back in December. Shares are already relegated to a range below their 50-day and 200-day moving averages since breaking down back in April. A recent upgrade from analysts at DZ Bank isn't giving any assistance to the share price.XOM stock will next report results Nov. 1 before the bell. Analysts are looking for earnings of 97 cents per share on revenues of $65.8 billion. When the company last reported Aug. 2, earnings of 61 cents per share missed estimates by 12 cents on a 6% decline in revenues.As of this writing, William Roth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Large-Cap Stocks to Sell Right Now * 7 Stocks Under $7 to Invest in Now * 7 Marijuana Stocks With Critical Levels to Watch The post 4 Energy Stocks to Sell Before Next Earnings Reports appeared first on InvestorPlace.
Woodside Energy (Senegal) BV awarded Halliburton Company (HAL) nine conditional1 contracts for drilling and completion services for SNE Field Development Phase 1 offshore Senegal. The drilling campaign, which is due to start in late 2020 or early 2021, is for drilling and completing 18 wells with up to eight optional wells over an estimated 3-4 year term. “We are excited to win this work and to provide services from our multiple product service lines on what is likely to be the first deepwater oil development in Senegal,” said Shannon Slocum, senior vice president of the Eurasia, Europe and Sub-Sahara Africa region for Halliburton.
Bethesda, MD, based Investment company Montgomery Investment Management Inc (Current Portfolio) buys Atlantic Union Bankshares Corp, Halliburton Co, sells Micro Focus International PLC during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Montgomery Investment Management Inc. Continue reading...
Denver oil company Whiting Petroleum Corp. cut 254 jobs Wednesday, slashing a third of its work force and reorganizing its staff and executive team as it posted a second-quarter loss. The moves affect 94 people on its executive and corporate teams, largely based in its downtown Denver headquarters. Others were let go from in its field operations in North Dakota, northeastern Colorado and elsewhere.
Halliburton Company (HAL) today announced the execution of an integrated services contract with Petrobras for pre-salt development in the Santos Basin. The two-year and six month contract will provide drilling and completion services to drive greater efficiency by applying pre-salt expertise and integrating multiple product offerings and technologies. “We are pleased to win this work and to collaborate with Petrobras to provide a tailored application of Halliburton technology,” said Anouar Fraija, vice president of Halliburton Brazil.