Halliburton Upgraded to Buy - Analyst Blog
22 Mai 2013 - 4:50PM
Zacks
On May 22, Zacks Investment
Research upgraded oilfield services provider Halliburton
Co. (HAL) to a Zacks Rank #2 (Buy).
Why the Upgrade?
Operating environment and growth prospects seem bright for
Halliburton, as reflected by the rising earnings estimates for this
leading Houston, Texas-based company. Over the last 60 days, the
Zacks Consensus Estimate for the second quarter of 2013 has
increased 7.14% to 75 cents per share, while that for 2013 went up
5.94% to $3.21 per share.
The momentum has been strong since Halliburton released its first
quarter earnings results on Apr 22. Earnings per share from
continuing operations – excluding a charge associated with the Gulf
of Mexico disaster in 2010 – came in at 67 cents, beating the Zacks
Consensus Estimate of 57 cents. This was aided by strong
performance in its international business.
With respect to the earnings trend, Halliburton delivered positive
earnings surprises in three of the last four quarters with an
average beat of 9.16%. Moreover, Halliburton has been retaining
shareholders’ confidence by returning wealth via dividend hikes. It
increased its quarterly common stock dividend by 39% to 12.5 cents
per share (50 cents per share annualized). The new dividend was
paid on Mar 27, 2013 to shareholders of record as of Mar 6.
The long-term expected earnings and sales growth projections of
16.12% and 14.53%, respectively, are also fairly impressive.
Going forward, Halliburton anticipates benefiting from its leading
position in the North American oilfield services market, improving
its international margins, and expanding market penetration in
deepwater and underserved international regions. We expect these
trends to result in a strong operating environment leading to the
delivery of positive earnings surprises.
Other Stocks to Consider
There are other oilfield services providers in the energy sector
that are also performing well and are worth considering. These
include Zacks Ranked #1 (Strong Buy) Dawson Geophysical
Company (DWSN), Exterran Holdings Inc.
(EXH) and Exterran Partners LP (EXLP).
DAWSON GEOPHYS (DWSN): Free Stock Analysis Report
EXTERRAN HLDGS (EXH): Free Stock Analysis Report
EXTERRAN PTNRS (EXLP): Free Stock Analysis Report
HALLIBURTON CO (HAL): Free Stock Analysis Report
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