Halliburton posts quarterly profit on cost cuts
- Author: Anthony Vega Oct 20, 2016,
Oct 20, 2016, 5:23
U.S. based company, Halliburton Company's (HAL)'s latest closing price distance was at 19.65% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 7.10% and 6.67% compared with the 20 Day Moving Average. The Hedge Fund company now holds 267,718 shares of HAL which is valued at $12,486,368. Halliburton Company makes up approx 3.16% of Morgens Waterfall Vintiadis Co Inc's portfolio.Summit Financial Wealth Advisors reduced its stake in HAL by selling 645 shares or 3.98% in the most recent quarter.
Halliburton Company (NYSE:HAL)'s earnings per share has been growing at a -19.1 percent rate over the past 5 year when average revenue increase was noted as 5.6 percent. The business's quarterly revenue was down 31.3% compared to the same quarter previous year. That is compared with the $0.31 in earnings per share it reported during the same period past year.
A number of equities research analysts have issued reports on HAL shares.
Halliburton Company (NYSE:HAL) went lower by -0.11% to close at $ 46.97. A significant surprise factor can lead to stock volatility and swings in the share price in the hours and days following the earnings report. Manchester Capital Management LLC now owns 2,354 shares of the oilfield services company's stock valued at $107,000 after buying an additional 9 shares in the last quarter. Finally, Atlantic Securities started coverage on Halliburton in a report on Monday, August 8th. The sell-side target prices range from $38 to $64.3. As of 2016-10-17, 22 have a Strong Buy rating on the stock, 0 have a Buy rating, 2 have a Hold rating and 1 have a Sell or Strong Sell. Societe Generale analysts downgraded the stock to Hold from Buy. 14,713,741 shares of the company's stock were exchanged. The latest trading activity showed that the Oasis Petroleum Inc.(OAS) price went down -19.90% from its 52-week low and trades up 223.24% versus its 52-week high. The company's Market capitalization is $50.13 Billion with the total Outstanding Shares of 978.71 million. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The stock has relative volume of 0.96. It was received at the Halliburton Elmendorf South Texas Sand Plant, which can handle two 115 auto unit trains simultaneously and can hold 40,000 tons in its eight silos. In the same period a year ago, the company reported EPS of $0.31 on revenues of $3.84 billion. Capital World Investors increased its stake in Halliburton by 13.4% in the second quarter. The shares were sold at an average price of $47.00, for a total value of $1,336,633.00.
Insiders own 0.49 percent of the stock.
Halliburton has suffered as its customers, which include oil and gas companies, have cut down on oil drilling due to falling oil prices. The company operates under two main segments: "Completion and Production, and Drilling and Evaluation". The Company's Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services and products.