Halliburton 4th-qtr profit beats, firm takes charge for Venezuela

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A number of institutional investors have recently bought and sold shares of the business. YorkBridge Wealth Partners LLC grew its stake in Halliburton by 243.3% during the 3rd quarter. Krilogy Financial LLC now owns 4,588 shares of the oilfield services company's stock worth $196,000 after buying an additional 1,212 shares during the last quarter. Estabrook Capital Management raised its position in Halliburton by 82.8% in the 2nd quarter.

The two oilfield services leaders touted growing revenues and improving profit margins, even though they both posted net quarterly losses because of one-time charges related to the new USA tax law and declining business in economically and politically tumultuous Venezuela. Neville Rodie & Shaw Inc. acquired a new position in Halliburton during the 3rd quarter worth $202,000. Bronfman E.L. Rothschild L.P. raised its position in Halliburton by 4.1% in the 2nd quarter. The stock has "Outperform" rating by RBC Capital Markets on Thursday, January 28.

A number of research analysts have issued reports on the company.

IBD'S TAKE: Buying or holding a stock can be risky heading into an earnings report. Citigroup decreased their target price on shares of Halliburton from $54.00 to $52.00 and set a "buy" rating on the stock in a research note on Wednesday, October 25th. Macquarie Research maintained it with "Neutral" rating and $39 target in Wednesday, September 9 report. The stock now has a consensus rating of "Buy" and a consensus target price of $56.53. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. The stock of Incyte Corporation (NASDAQ:INCY) earned "Buy" rating by Vetr on Tuesday, August 18.

Halliburton Company (HAL) traded up $3.39 on Monday, hitting $56.40. The stock had a trading volume of 17,330,000 shares, compared to its average volume of 8,310,000. The firm has a market capitalization of $49,210.00, a price-to-earnings ratio of 235.00, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03. Halliburton Company (NYSE:HAL) has risen 19.03% since January 22, 2017 and is uptrending.

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Halliburton Company's Average Earnings Estimate for the current quarter is $0.46, according to consensus of 27 analysts.

Halliburton's fourth quarter revenues surged by nearly 50 percent to $5.9 billion from $4 billion in in 2016 as US shale production booms.

Swiss National Bank increased its stake in Halliburton Co (HAL) by 1% based on its latest 2017Q3 regulatory filing with the SEC. The company's revenue was up 47.7% on a year-over-year basis. The Arosa Capital Management Lp holds 977,144 shares with $44.98 million value, down from 1.80 million last quarter. Piper Jaffray maintained the shares of HAL in report on Thursday, December 14 with "Buy" rating. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $0.72 annualized dividend and a dividend yield of 1.28%. Halliburton's dividend payout ratio is presently 300.00%.

The company's ATR (Average True Range) is 1.12.

When it comes to the Analysis of a Stock, Price Target plays a vital role. The Echo Street Capital Management Llc holds 279,634 shares with $14.51 million value, up from 115,367 last quarter. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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Halliburton's stock closed at $53.01 on Friday, up about 1.2% for the day.

The company P/E (price to earnings) ratio is 219.96 and Forward P/E ratio is 24.44. Allsquare Wealth Mngmt Ltd Company owns 200 shares. The disclosure for this sale can be found here. Panagora Asset Mngmt stated it has 0.1% of its portfolio in Halliburton Company (NYSE:HAL).

TRADEMARK VIOLATION NOTICE: This article was originally published by StockNewsTimes and is owned by of StockNewsTimes.

Halliburton's optimistic view for its USA and global operations comes as rising crude prices spur demand for oilfield services.

While prices for USA crude remain nearer to $65 than $60, services firms like Halliburton are set up to provide more well completions, pressure pumping services and even increased drilling.

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Other hedge funds have also recently added to or reduced their stakes in the company.

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