Halliburton Company (NYSE:HAL)
Halliburton Earnings Results
Halliburton announced Q4 results early Monday morning with mediocre results that sent the shares slightly lower in the pre-market session. The company announced adjusted earnings per share of 4 cents on $4.02 billion while analysts were looking for 2 cents per share on $4.10 billion. They beat on a per share basis but fell short on sales pushing shares below Fridays lows.
HAL Technicals
Looking at the daily chart above you will see that shares have been on a decent uptrend dating back February of 2016 after shares double bottomed at $28. However, after the company announced fourth quarter results shares were a little heavy in the pre-market with shares trading around $55.70 after closing Friday at $56.45, representing a marginal 1.3% drop in value.
Shares are still well above their 200-day moving average at $45.75 and their 50-day moving average at $52.89. We should see some support at the 20-day moving average at $54.98, $55.40 and $54 while resistance will be met at $56 and $57.
Looks for shares to be more volatile than normal as traders react to earnings and as the markets settle in with the President. Currently analyst have an average price target of $61.37. Check out these links for more information on Warrior Trading and the penny stock trading strategies we implement in their chat room!
CEO Comments
“Despite the positive sentiment surrounding the North American land market, it is important to remember that our world is still a tale of two cycles,” Chief Executive Dave Lesar said in a statement.
“The North America market appears to have rounded the corner, but the international downward cycle is still playing out.”
Company Profile
Halliburton Company (NYSE:HAL) is a provider of services and products to the upstream oil and natural gas industry. The Company operates through two segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Company’s Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services. The Company’s Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation and wellbore placement solutions that enable customers to model, measure, drill and manage its well construction activities. The Company’s baroid provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment and waste management services for oil and natural gas drilling, completion and workover operations. The Company operates its business in approximately 80 countries.