Halliburton Co

Multinational corporation Halliburton (HAL) is owned by its shareholders. The largest shareholder is The Vanguard Group, Inc., which has a 10.78 percent stake in the company.

Halliburton stock rose 2.7 percent in pre-market trading session on Jan. 19 following its fourth-quarter earnings results. Is HAL stock a good buy?

Wall Street analysts gave mixed recommendations after Apache’s quarterly results. Apache shares fell 5% on November 6, 2015, after the earnings release.

The EIA expects less natural gas production at four key US shales by January 2017 compared to November 2016. It expects production to rise at three key US shales.

Schlumberger’s trailing-one-year stock price has fallen 12% as of June 16, 2017, while XLE, the broader energy industry ETF, has fallen 3%.

The US economy stalled in 2014 for several reasons, including seasonality, weather, strength of the dollar, the West Coast port strike, and the oil price slump.

In Latin America, BHI expects year-end product sales to increase. It also expects the offshore Mexico rig activity to increase.

National Oilwell Varco’s (NOV) capital expenditure or capex fell ~32% in fiscal 2017—compared to its capex spend in fiscal 2016.

Schlumberger had the lowest implied volatility figures among all of the OFS companies on May 31, 2016. It has returned 9.4% on a YTD basis.

As a result of steeply falling CFO, Halliburton’s free cash flow deteriorated to a negative $499 million in 3Q15 from a negative $71 million a year ago.

Between December 2014 and December 2016, Baker Hughes (BHI) stock hit its peak in April 2015. It troughed at ~$39 in January 2016.

Schlumberger’s (SLB) one-year stock price fell 21.0% as of August 11, 2017. In the past year, the Energy Select Sector SPDR ETF (XLE) has fallen 7.0%.

U.S. land rig counts totaled 1,696 on February 21, 2014, compared to 1,692 the week prior. Over the medium term, rig counts have been relatively stable.

Approximately 90% of the analysts tracking Halliburton (HAL) recommended a “buy,” ~8% recommended a “hold,” and the rest recommended a “sell.”

For Schlumberger, seven analysts rated it as a “strong buy,” 15 rated it as a “buy,” 13 rated it as a “hold,” and one rated it as a “sell.”

Rig counts tell us how many rigs are actively drilling for oil and gas. They can be an indication of oil and gas producers’ confidence.

On Friday, June 5, Baker Hughes released the weekly natural gas rig count report. As expected, natural gas rigs fell by three to 222 for the week ending June 5.

Economist Karr Ingham expects that two-thirds of the Texas rigs at work will be laid down. That’s about 600 rigs if the price of crude oil stays low.

On October 13, Halliburton proposed to acquire Baker Hughes’ shares without prior notice. After receiving BHI’s counter proposal, Halliburton refused to increase its first value proposal.

Appaloosa Management enhanced its position in American Airlines Group Inc. (AAL) last quarter that now accounts for 3.48% of Appaloosa’s total 1Q portfolio.

The U.S. rig counts dropped last week, but are still up significantly year-to-date and have increased by 103, or 6%.

On July 16, US crude oil August futures fell 4.2% and settled at $68.06 per barrel—their lowest closing level since June 21.

Many parties in the energy industry and investing community monitor oil and gas rig counts as one measure of drilling activity.

Rate cut transmissions by commercial banks, inflation, and monetary policy actions by the Fed will have the largest influence on India’s future.

Tidewater (TDW) has the highest implied volatility among all of the OFS companies. The stock has fallen 65.1% on a YTD (year-to-date) basis.

Schlumberger recorded topline and bottom-line growth in its North American operations due to continued efficiency improvements and new technology.

Last week, Baker Hughes reported that the US crude oil rig count fell by one rig to 515 rigs for the week ending January 15, 2016.

There’s a tender and support agreement between the founding members and Liberty Interactive. These Zulily shareholders have agreed to the Liberty Interactive tender offer.

In the second quarter, TechnipFMC recorded total revenues of ~$2.96 billion, down 23% from ~$3.85 billion in Q2 2017.

Baker Hughes (BHI) is a leading supplier of oilfield services, products, technology, and systems to the worldwide oil and natural gas industry.

Halliburton (HAL) recorded a net loss of ~$463 million in 2017—a sharp improvement compared to a net loss of $5.73 billion in 2016.

The previous parts of this series (parts 8 and 9) explained the counterintuitive relationship between low natural gas prices, falling rigs, and rising natural gas production. Oil rigs have a simpler relationship with crude oil prices and oil production.

Halliburton’s 3Q16 FCF improved significantly over the previous year. Its CFO rose significantly due to increased rig utilization in North America.

In 4Q14, revenues in the Drilling and Evaluation segment increased 6.5% to $3.29 billion from $3.09 billion recorded in 4Q13.

U.S. total rig count increases by six The U.S. total drilling rig count increased by six rigs, from 1,883 to 1,889, during the week ending August 1 according to Baker Hughes, which publishes rig counts every week. The number of oil rigs increased by 11, while the number of natural gas rigs decreased by five. […]

Baker Hughes will release the weekly crude oil rig count report on July 24, 2015. The crude oil rig count fell by seven to 638 for the week ending July 17.

Between 3Q12 and 3Q14, HAL’s adjusted earnings per share (or EPS) has increased 78%. HAL has drawn the attention of Wall Street analysts to review the results and give their recommendations and target price.

Appaloosa Management’s top new buy last quarter was American Airlines Group (AAL), with a 2.22% position in the hedge fund’s U.S. long portfolio.

Wall Street analysts expect Flotek Industries (FTK) to register positive EBITDA (or earnings before interest, tax, depreciation & amortization) in 4Q16.

Halliburton (HAL) released its fiscal 2Q16 financial results on July 20, 2016. It recorded total revenues of $3.4 billion, a decline of 43% from $5.9 billion in fiscal 2Q15.

Schlumberger (SLB) is scheduled to report its first-quarter earnings on April 18. Analysts’ consensus EPS estimate is $0.3 per share.

Horizontal rig counts had been setting and breaking new records before last week’s fall, which marked the third decrease in the past 16 weeks.

Halliburton’s share price reacted negatively after its fiscal 4Q15 earnings release, falling by 3.9% to $29.28 on the day compared to the day before.

Halliburton reported its fourth-quarter results on January 22. The company’s EPS fell to $0.41 from $0.53 per share in the fourth quarter of 2017.

Wall Street’s forecasts for Halliburton include ~76% of analysts rating the company as a “buy” or some equivalent.

Helmerich & Payne reported its first-quarter results on January 29. The company reported an EPS of $0.17 for the quarter ending December 31.

The correlation coefficient between the price of crude oil and Halliburton (HAL) stock from September 5, 2016, to September 5, 2017, is 0.65.

Schlumberger, a Houston-based energy company, provides technology, integrated project management, and information solutions to oil and gas exploration and production companies.

Baker Hughes, a GE Company (BHGE), is the largest company by market capitalization in our select set of major oilfield services and equipment companies.

In this article, we’ll look at Wall Street’s targets for the OFS stocks that had the highest net debt-to-equity ratios in the first quarter.

Many oilfield equipment and services (or OFS) companies witnessed stupendous rises in their net incomes from 2009 to 2014.

The mean target price for Helmerich & Payne is $70.7, which implies an upside potential of ~22% from its current price.

From 1Q16 to 1Q17, Flotek’s EBITDA margin shrank to 3.3% from 4.1%. FTK’s EBITDA margin has been 1.7%, on average, for the past five quarters.

Baker Hughes Inc. (BHI) is based in Texas. It’s an energy company that operates in the oil and gas equipment and services industry. As of December 31, 2013, BHI operated in more than 80 countries.

In this series, we will look at investors’ short interest in Schlumberger and SLB’s implied volatility.

From September 30 until the week ended December 30, 2016, the US rig count rose ~26% to close at 658. A higher US rig count could increase Halliburton’s (HAL) revenues and earnings in 4Q16.

The correlation coefficient between Schlumberger’s stock price and crude oil prices from January 11, 2017, to January 11, 2018, was 0.47.

The short interest in Schlumberger (SLB), as a percentage of its float, is 1.5% as of August 7, 2017—compared to 1.6% as of June 30, 2017.

From March 31, 2017, until the week ending July 7, 2017, the US rig count rose 16% to 952. The increased US rig count could raise Halliburton’s 2Q17 revenues.

From 2009 to 2015, Halliburton’s (HAL) net debt swelled 340%. By September 30, 2016, HAL’s net debt rose 71% compared to December 31, 2015.

Wall Street analysts expect Halliburton’s (HAL) 4Q16 adjusted earnings per share to reach $0.013—a 29% improvement over its 3Q16 adjusted earnings.

In the past year, Schlumberger’s (SLB) North America revenues declined 14%. In 1Q17, SLB’s revenues from North America totaled 28% of its total revenues.

Baker Hughes, a GE company (BHGE), released its 4Q17 and 2017 financial results on January 24, 2018. The company recorded total revenue of $5.8 billion in 4Q17.

Schlumberger Limited is a Houston-based energy company. It provides technology, integrated project management, and information solutions to oil and gas exploration and production (or E&P) companies around the world.

Between April 16 and April 23, Halliburton (HAL) stock’s price correlation with crude oil was 0.99, showing that Halliburton and crude oil prices have been strongly correlated in the past week.

Halliburton (HAL) stock has fallen ~18% in 2018, underperforming its sector peers. HAL stock fell significantly after its Q2 earnings.

On July 17, Weatherford International’s (WFT) implied volatility was ~65.2%.

Elliott was unhappy with EMC’s performance and wanted them to spin off their holding in VM Ware to shareholders.

Halliburton (HAL) registered the highest revenue growth in our group. Halliburton’s 2017 revenues increased 29.8% to $20.62 billion.

Oilfield service (or OFS) companies provide services such as drilling and completing wells, evaluating oil and gas reserves, maintaining wells, and offering other related goods and services.

Baker Hughes, a GE company (BHGE) released its financial results for 4Q17 on January 24, 2018. Immediately following the earnings release, BHGE’s stock reacted negatively.

November WTI crude oil futures contracts fell by 2.6% on October 19. Crude oil prices fell due to the mammoth rise in the gasoline glut and weak demand cues.

TechnipFMC (FTI) released its second-quarter financial results on July 25 after the market closed. The company recorded operating revenues of $2.96 billion.

The oil rig count could keep rising until at least March. By the second quarter, US crude oil production growth might slow down.

Superior Energy Services’ (SPN) management thinks the energy industry is moving toward a recovery, although the timing of the recovery remains uncertain.

Halliburton’s (HAL) stock price correlation with crude oil on July 20–27 was 0.22—a moderately positive correlation.

By market capitalization, Schlumberger is the largest OFS company. Schlumberger’s stock price has declined 4% since May 3, 2017.

Approximately 81% of analysts tracking Halliburton have rated it a “buy,” whereas approximately 17% of analysts tracking the company have rated it a “hold.”

On November 16, Weatherford International (WFT), an oilfield equipment and services company, disclosed that it issued 84.5 million ordinary stocks.

What have the Big Three oilfield service companies been saying about the outlook for 2014? The global economy is expected to continue to improve.

Analysts expect Halliburton (HAL) to report adjusted EPS of $0.58 in Q2 2018, a 41% improvement from its Q1 2018 adjusted EPS of $0.41.

From September 29, 2017, until the week ending December 29, 2017, the US rig count fell 1% and finished at 929.

Revenues increased primarily on account of higher offshore activity in Mexico, Russia, and North America. Rig revenue from Saxon also attributed to the growth.

Magnetar raised its stake in Williams Companies during the fourth quarter by purchasing 1.5 million shares. It represents 2.59% of the fund’s 4Q14 portfolio.

Halliburton released its 1Q18 financial results today. Here’s what you need to know.

On July 25, 2018, FTI’s stock price was down 10.9% compared to May 9 when its first-quarter financial results were released.

Halliburton’s (HAL) cash from operating activities (or CFO) in 2Q17 was a huge improvement over 2Q16 as well as an increase over 1Q17.

Halliburton’s (HAL) CFO (cash flow from operating activities) in 2017 was a significant improvement over 2016.

In the past year, Weatherford International’s (WFT) revenue share from North America has risen to ~38.0% compared to 37.0% in 4Q16.

Among our group of OFS companies, analysts expect Halliburton (HAL) to see the highest rise in adjusted EPS in 1Q17.

On May 20, 2017, Schlumberger signed a memorandum of understanding with Saudi Arabia’s state-owned oil company Saudi Aramco.

Short interest in Schlumberger (SLB) as a percentage of its float is 1.2% as of July 6, 2017, compared to 1.2% as of March 31, 2017.

From 2Q16 to 2Q17, Flotek Industries’ (FTK) EBITDA margin (or EBITDA as a percentage of revenues) improved to 2.3% from 0.7%.

Schlumberger’s enterprise value (or EV) when scaled by trailing-12-month (or TTM) adjusted EBITDA is lower than the peer average in our group here.

Halliburton’s (HAL) short interest, as a percentage of its float, was ~2.9% as of June 2, 2017—compared to 2.1% as of March 31, 2017.

In 2014, Baker Hughes (BHI) outperformed the industry and broader market for most of the year. However, it’s currently underperforming the broader market index and its peers.

Approximately 75% of analysts tracking Halliburton rate it a “buy” or some equivalent. About 25% rate the company a “hold” or an equivalent, while none of the analysts recommend a “sell.”

Weatherford International released its financial results for 2Q17 on July 28, 2017. On that day, its stock price reacted negatively and fell 2.5% to $4.27.

Tidewater had the highest implied volatility among all of the OFS companies that are part of OIH. The stock has fallen 78.6% on a YTD (year-to-date) basis.

National Oilwell Varco’s forward PE multiple is positive, which reflects sell-side analysts’ estimates of positive earnings in the next 12 months.