Halliburton Company (HAL) Stock Drops on Worries About International Weakness

26 January, 2017, 00:48 | Author: Sam Montgomery

Shares of Halliburton (HAL) fell slightly in pre-market trading on Monday after the company cautioned on worldwide weakness in its business, but posted better-than-expected earnings for the fiscal fourth quarter.

After Halliburton chose past year to pass up on some work that would drag its margins lower in North America, it now wants to defend its market share by taking on more jobs while at the same time boosting profit in the region with higher service prices. The oilfield services company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.02. Analysts had been expecting the fast food giant to report $1.41 per share in earnings and $6 billion in revenue. For HAL, the company now has $3.29 Billion of cash on the books, which is offset by $152 Million current liabilities.Halliburton's capital expenditure in the fourth quarter was $173 million, bringing the full-year spending to $798 million - much lower than the 2015 outgo of $2,184 million. The company's revenue of $4.02 billion missed the consensus estimate by $70 million and declined 16% year-over- year, discouraged traders, who expected a stronger recovery in revenues. The company's market capitalization is $47.37 billion. The share price of the stock plunged -14.85% for the year. The dominant statistics will authorize the investment community to govern the size of Halliburton Company compared to the sales or total assets figures.

The stock is now showing YTD performance of 1.31 Percent. He continued to say that Halliburton gained significant market share through the downturn, which continued into the fourth quarter, "as we outgrew our primary competitor in North America, Latin America and the Eastern Hemisphere".

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In other news, insider Joe D. Rainey sold 23,162 shares of the firm's stock in a transaction that occurred on Monday, November 21st. Passport Lc last reported 0.66% of its portfolio in the stock.

Halliburton shares have increased slightly more than 4 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 1.5 percent.

In a separate transaction, on Jan 11, 2017, Eric Carre (EVP, Global Business Lines) sold 8,529 shares at 56.05 per share price.On Jan 6, 2017, Jeffrey Allen Miller (President) sold 3,166 shares at 56.19 per share price.On Dec 13, 2016, David J Lesar (Chairman and CEO) sold 10,000 shares at 55.16 per share price. Looking at the stock's movement on the chart, Halliburton Company recorded a 52-week high of $ 56.98. The company operates under two main segments: "Completion and Production, and Drilling and Evaluation". Beta factor, which measures the riskiness of the security, was registered at 1.02.

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