|Bid||52.00 x 400|
|Ask||52.68 x 700|
|Day's Range||50.76 - 52.65|
|52 Week Range||38.18 - 57.86|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 23, 2018 - Apr 27, 2018|
|Forward Dividend & Yield||0.72 (1.42%)|
|1y Target Est||62.69|
Oil prices may be “artificially Very High,” as Donald Trump alleged last week, but that hasn’t boosted an industry that should be a key beneficiary. On Monday morning Halliburton rounded out first-quarter earnings season for the world’s three largest oil-field-services companies. Like its brethren, Schlumberger and Baker Hughes, a General Electric company, it struck an upbeat tone.
The Houston-based Halliburton reported adjusted earnings of 41 cents per share on revenue of $5.74 billion for the first quarter.
U.S. stocks end the session little changed on Monday as investors grappled with rising bond yields and a mixed bag of earnings reports.
The Dow Jones Industrial Average has traded lower for four straight sessions. The Dow remains more than 2,100 points below its all-time high of 26,616 set on Jan. 26. The Nasdaq finished lower Monday after having declined for two straight sessions.
Halliburton said stresses on the U.S. rail system made deliveries of fracturing sand less predictable.
Meanwhile, Halliburton (HAL) affirmed increased activity in the U.S. shale, driven by strong oil and gas production in response to an improving crude environment.
After reporting a net loss in Q1 2017, a robust drilling market in North America has turned Haliburton’s revenue around, reporting a net income for Q1 2018
The jump in revenue came despite a $312 million writedown on Halliburton's remaining assets in Venezuela, and a hit to earnings related to the impact of cold weather earlier in the quarter. Halliburton expects normalized margins of around 20 percent in North America by the end of this year, supported by ongoing tightness in the hydraulic fracturing market, Chief Executive Jeff Miller said on Monday. "We believe the pressure pumping market is undersupplied and will remain tight," Miller said, pointing to high fracking equipment utilization rates and service intensity that is degrading existing equipment.
Oilfield services provider Halliburton Co reported a 34 percent jump in first-quarter revenue on Monday as North American companies boosted oil and gas production amid rising oil prices. The jump in revenue came despite a $312 million writedown on Halliburton's remaining assets in Venezuela, and a hit to earnings related to the impact of cold weather earlier in the quarter. Halliburton expects normalized margins of around 20 percent in North America by the end of this year, supported by ongoing tightness in the hydraulic fracturing market, Chief Executive Jeff Miller said on Monday.
When the equity markets started the correction on Feb. 2, Halliburton Company (NYSE:HAL) stock had already started its own 7% slide off its earnings event. Since mid March, HAL has mounted a strong 15% rally, which is a statement to the quality of the stock. Today, my view is that the worst is behind HAL stock and not yet to come.
The oilfield services giant swung to a profit from a loss as companies in North America boosted oil and gas production. Fred Katayama reports.