Revenue: Revenues of $3,835 million has surpassed the Zacks Consensus Estimate of $3,744 million.
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Schlumberger is scheduled to report its quarterly results on Thursday, while Baker Hughes will release its earnings on July 28. For the quarter, the oil and gas services company posted an adjusted diluted loss per share of $0.14 on revenues of $3.84 billion.
Halliburton Company makes up approx 0.19% of Sumitomo Life Insurance Co’s portfolio.First Manhattan Co reduced its stake in HAL by selling 14,241 shares or 10.91% in the most recent quarter.
Meanwhile, Halliburton said revenue in its North American operations – the largest contributor to its top line – tumbled 43% amid reduced activity throughout the US land sector, particularly pressure pumping services and drilling activity. Company shares were Reiterated by KeyBanc Capital Mkts on Jun 21, 2016 to “Overweight”, Firm has raised the Price Target to $ 54 from a previous price target of $45.Company shares were Reiterated by Scotia Howard Weil on Jun 15, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 45 from a previous price target of $37.Halliburton Company was Upgraded by Griffin Securities to ” Buy” on May 19, 2016. On the other hand, in the December 2015 quarter it recorded a net $5.08B revenue with EPS of $0.31.
Halliburton Co, the world’s No. 2 oilfield services provider, reported a smaller-than-expected quarterly loss and said it expects to see a “modest uptick” in North American rig count in the second half of the year.
“We believe the North America market has turned”, Chief Executive David Lesar said in a statement.
Key Stats: Operating loss from the Completion & Production segment was $32 million, against a profit of $313 million in the year-ago quarter. “With our growth in market share during the downturn, we believe we are best-positioned to benefit from any recovery, including a modest one”, he said, adding the company stands to gain market share internationally. From the Drilling & Evaluation unit, Halliburton generated income of $154 million, decreased 61.5% from $400 million in the prior year comparable period. The good news, though, is that there are no breakup fees on the horizon.
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Shares of the company were down about 1.6 percent at $44.24 in morning trading on Wednesday. Jefferies Group restated a “buy” rating and issued a $43.00 price target on shares of Halliburton in a research report on Monday, April 25th.
