Halliburton shares fall as North American demand lags, despite quarterly profit beat [Toronto Globe and Mail (Ontario, Canada)]
Halliburton Company (HAL)
Last halliburton company earnings: 4/20 06:45 am
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Source: Toronto Globe and Mail
Halliburton shares fall as North American demand lags, despite quarterly profit beat Shares of oil field firm Halliburton Co. fell sharply on Tuesday after the company forecast lower revenues in key business areas in the first quarter, overshadowing a quarterly profit beat and a pledge to reduce 219 spending. Clients in North America, Halliburton’s biggest market by revenue, began pulling back on some drilling services last year amid transportation bottlenecks in the largest U.S. production region and after oil prices slid sharply in the fourth quarter. An oil glut and concerns about a global economic slowdown have pushed U.S. crude futures down about 3 per cent since October to around $53 a barrel. Story continues below advertisement The company anticipates mid- to high-single-digit revenue declines in its Completion and Production and its Drilling and Evaluation divisions next quarter. Halliburton said it will reduce its 219 capital spending budget by nearly 2 per cent to $1.6 billi
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News
- Halliburton (NYSE: HAL) had its price target raised by analysts at TD Cowen from $47.00 to $48.00. They now have a "buy" rating on the stock.MarketBeat
- Halliburton (HAL) Q1 Earnings Beat on International Strength [Yahoo! Finance]Yahoo! Finance
- Halliburton (NYSE: HAL) had its price target raised by analysts at UBS Group AG from $46.00 to $51.00. They now have a "buy" rating on the stock.MarketBeat
- Halliburton (NYSE: HAL) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $46.00 to $48.00.MarketBeat
- Halliburton (NYSE: HAL) had its price target raised by analysts at Morgan Stanley from $45.00 to $50.00. They now have an "overweight" rating on the stock.MarketBeat
HAL
Earnings
- 4/23/24 - Beat
HAL
Sec Filings
- 4/23/24 - Form 8-K
- 4/2/24 - Form DEFA14A
- 4/2/24 - Form DEF
- HAL's page on the SEC website