Crude affecting Halliburton Company (NYSE:HAL)

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[The Street] Halliburton Company (NYSE:HAL) are down 2.38% to $38.55 in midday trading on Monday, as the energy sector leads the market into the red, with crude prices breaking below $50 a barrel earlier today.

The Dow Jones Industrial Average is tumbling, lower by 307 points, as U.S. stocks are falling sharply to the Dow’s worst day in three weeks.

Earlier today West Texas Intermediate dipped to $49.95 a barrel, its lowest point since April 2009, before recovering to about $50.60 a barrel as of 12:50 p.m. ET. Brent is down 5.21% to $53.48 as of 12:51 p.m. ET. Read the full article here.

Analysis

Halliburton Company (HAL) last released quarterly earnings on October 20th for the period ending September 30th 2014. The company reported actual earnings per share of $1.19 against Zack’s Research estimate of $1.10. This represents a 8.18% surprise downside to the expected number.

The average broker recommendation according to Zacks is 1.56 based on 25 recommendations. On a consensus basis, analysts have a short term target price of $65.52 and expect a long term growth rate of 16.30%. Out of 265 companies within the Oil-Field Svcs industry, the company sits at 206. Zacks gives a current quarter EPS estimate of 1.20 and a Hold rating of 3 which is based on short term performance over the next one to three months. Of the companies included in the Zack’s consensus rating, 18 rate the stock a Strong Buy, 2 rate it a buy, 4 see it as a Hold and 1 a Strong Sell.

About Halliburton

Halliburton Company (NYSE:HAL) provides a variety of services, equipment, maintenance, and engineering and construction to energy, industrial and governmental customers. The company is made up of the following three business segments: Energy Services Group, Engineering and Construction Group, and Dresser Equipment Group.

Discussion2 Comments

  1. Im confused. This is dated Jan 8, but the DJIA is up due to jobs numbers…as is HAL. Why report old news from 2 days, and date it today?

    • Hi Ian,
      Our apologies, sometimes news is delayed on occassions before we release and in future we will certainly try to not let this happen. The analysis is still relevant in that it shows analyst opinion. Again, please accept our editorial apology.

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