38.20 +0.66 (1.76%)
Pre-Market: 8:32AM EDT
|Bid||38.20 x 900|
|Ask||38.50 x 1000|
|Day's Range||37.53 - 38.86|
|52 Week Range||35.75 - 57.86|
|Beta (3Y Monthly)||1.09|
|PE Ratio (TTM)||344.40|
|Earnings Date||Oct 22, 2018|
|Forward Dividend & Yield||0.72 (1.92%)|
|1y Target Est||51.36|
Oilfield services provider Halliburton Co's third-quarter profit edged past analysts' estimates on Monday, helped by its international business, even as pipeline bottlenecks in North America led to fewer well completions. Halliburton, the largest provider of hydraulic fracturing services, has seen demand for its services soften as U.S. producers cut down on spending and transportation bottlenecks in the Permian basin of west Texas and New Mexico pushed the price of regional crude lower.
Co. was able to lift revenue and profit during the third quarter past expectations, but the oil-field services company said demand for some of its key operations came in weaker than anticipated. Houston-based Halliburton said infrastructure constraints in North America and what it termed as customer “budget exhaustion” resulted in less demand for its completion services, which make wells ready for use. The company is active in the Permian Basin of Texas and New Mexico, which has been the center of the U.S. shale boom.
If you want to know who really controls Halliburton Company (NYSE:HAL), then you’ll have to look at the makeup of its share registry. Large companies usually have institutions as shareholders, Read More...
Check out the companies making headlines before the bell: Kimberly-Clark KMB – The consumer products company named President and Chief Operating Officer Michael Hsu as its new CEO, effective in January.
Halliburton, the largest provider of hydraulic fracturing services, has seen demand for its services soften as U.S. producers cut down on spending and transportation bottlenecks in the Permian basin of west Texas and New Mexico pushed the price of regional crude lower. Halliburton's international revenue rose 5 percent from the second quarter to $2.4 billion, while in North America, revenues decreased 2 percent sequentially to $3.74 billion.
Energy services company Halliburton Co. said Monday it had net income of $435 million, or 50 cents a share, in the third quarter, up from $365 million, or $42 cents a share, in the year-earlier period. Revenue rose to $6.172 billion from $5.444 billion. The FactSet consensus was for EPS of 49 cents and revenue of $6.105 billion. Chief Executive Jeff Miller said operating income of $716 million was 9% below the second quarter, mostly due to a weak North American market for completion services. "In North America, a combination of offtake capacity constraints and our customers' budget exhaustion led to less demand than expected for completion services," Miller said in a statement. "I believe that these are temporary issues, and that the catalysts for improving demand for services are clearly visible: supportive commodity pricing, expanding offtake capacity, building well inventory, and reloaded customer budgets." The outlook for global commodity supply and demand dynamics is "constructive," he said. Shares rose 0.9% premarket, but are down 23.2% in 2018, while the S&P 500 has gained 3.5%.
The Houston-based company said it had net income of 50 cents per share. The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for ...
Oilfield services provider Halliburton Co on Monday posted a 19.2 percent rise in quarterly profit, but said pipeline bottlenecks and lower spending by customers weighed on demand for well completion services ...
HOUSTON-- -- Income from continuing operations of $0.50 per diluted share Halliburton Company announced today income from continuing operations of $435 million, or $0.50 per diluted share, for the third quarter of 2018. This compares to income from continuing operations for the second quarter of 2018 of $511 million, or $0.58 per diluted share. Operating income was $716 million during the third quarter ...
We look ahead to earnings releases from Halliburton, Hasbro and Kimberly-Clark, and behind us at Procter & Gamble, Cleveland-Cliffs and PayPal.
U.S. stock futures rose on Monday following a massive rally in Chinese equities. At around 7 a.m. ET, Dow Jones Industrial Average futures were up 83 points, pointing to a gain of 32.66 points. S&P 500 and the Nasdaq 100 also indicated gains at the open.
The return of the drilling frenzy in U.S. shale has led to a rise in revenues and profits for the world’s top oilfield services companies, but the real recovery only just started
CEOs pulling out of the “Davos in the Desert” conference is one thing; giving up investment or business opportunities in the kingdom is much more difficult.
Artesia is at the northwestern edge of what is known as the Permian Basin, named for the geologic period that came right before the Triassic and the Jurassic (which, as a childhood dinosaur fanatic, I find useful as context) and left a whole lot of marine organic matter across West Texas and southeastern New Mexico that spent the next 252 million years turning into oil and natural gas. Humans drilled the first successful oil well in the Texas part of the Permian in 1921, and the first big New Mexico strike came in 1928.
Schlumberger (SLB) reported its Q3 results on October 19 before the markets opened. The company reported EPS (earnings per share) of $0.46, which beat consensus estimates by 1.4%. Schlumberger’s EPS rose 7% sequentially and 10% on a YoY (year-over-year) basis. Schlumberger’s reported revenue of $8.5 billion missed estimates by 0.9%. Revenue rose 2% sequentially and 8% YoY. The stock rose ~1.5% in pre-market trading.
While Schlumberger Ltd., Halliburton Co. and Baker Hughes are projected to report third-quarter earnings that are higher year-on-year, analysts have been cutting their estimates in recent weeks, as it becomes clear the U.S. shale market will cool off. Here are some of the things to look for in the earnings reports, starting with Schlumberger, which is scheduled to publish its numbers on Friday before the start of trading. America’s busiest oilfield is slowing down because of maxed-out pipelines, budget exhaustion and greater investor scrutiny of explorer spending.
Halliburton (HAL) has seen quite a few target price revisions in October. On October 12, Société Générale cut its rating for Halliburton from “buy” to “hold.” On October 10, Barclays cut its target price for Halliburton from $60 to $52. On October 8, HSBC cut its target price for the stock from $56 to $51. On October 3, Wells Fargo cut its target price for Halliburton from $58 to $55. Currently, Halliburton’s mean target price is $51.4.
Pipeline takeaway capacity constraints in the Permian Basin seems to be the primary reason for apprehension about Halliburton's (HAL) Q3 results.
So far, Halliburton (HAL) has fallen ~20% in 2018. The company has underperformed its peers during this period. Schlumberger (SLB) and Baker Hughes (BHGE) have fallen 14% and 5%, respectively, during the same period. National Oilwell Varco (NOV) has risen 15% YTD (year-to-date). The VanEck Vectors Oil Services ETF (OIH) has fallen 8% during the same period. Halliburton fell significantly after its second-quarter earnings. The company announced that it expects temporary softness in the North America market.
Halliburton (HAL) operates through two segments—Completion and Production and Drilling and Evaluation. The Completion and Production segment contributed 78% of Halliburton’s second-quarter operating income. Halliburton’s Completion and Production segment’s operating income rose 34% sequentially in the second quarter driven by growth in pressure pumping and artificial lift activity in the US land sector.
Christopher Earnest, Partner, Houston Office of Compensation Advisory Partners By John Jannarone A slew of companies have been in the crosshairs of proxy advisors due to their approach to so-called Say on Pay practices. In the energy sector, for example, the likes of Halliburton, C&J, and Parker Drilling faced criticism for failing to conduct appropriate […]