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HAL

Halliburton Company

5/24/2013, 8:10 AM ET

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Tuesday, May 21, 11:43 AM Halliburton (HAL -1%) says its Q2 operating profit margin will be negatively impacted by a decline in rigs working in Mexico as the country transitions to a new way of awarding service contracts. HAL had earlier seen a margin close to the mid-teens for the quarter. In North America, HAL says the market for pressure pumping equipment remains 20% over-supplied, which should be cut in half by year's end. 1 Comment [Energy]
Monday, May 20, 5:35 PM Deutsche Bank remains bullish on oil service stocks (OIH), seeing favorable underlying trends in Q1 as North American margins improved Q/Q despite a decline in the rig count, suggesting significant operating leverage as activity levels recover. DB's four top stocks to buy, all with price targets well in excess of Wall Street consensus: BHI, HAL, NBR, HERO. Comment! [Energy, Quick Ideas]
Monday, May 20, 9:06 AM Texas on Friday became the latest state to sue BP, Halliburton (HAL) and others tied to the 2010 Gulf of Mexico oil spill, alleging the parties "engaged in willful and wanton misconduct." The Texas lawsuit asks for money for various reasons including sales and hotel occupancy taxes the state says it didn't receive because visitors didn't go to its Gulf Coast communities due to the spill. 9 Comments [Energy]
Friday, May 3, 11:58 AM The bigger the better when it comes to oil services providers, Jefferies believes, making the case that the big sector players are best positioned to fix inefficiencies of operations and thus ultimately will see the largest benefit from the surge in U.S. production. The firm's favorites: SPN, SLCA, PES, HP, ESV, NOV, CAM, HAL, SLB. Comment! [Energy, Quick Ideas]
Thursday, April 25, 3:06 PM Oil prices probably need to stabilize and/or move up before oilfield services stocks start rising again, but demand is strong below the surface, Credit Suisse says, believing current valuations fail to reflect the high level of activity or the stable nature of the North American business. The firm adds Halliburton (HAL) to its Focus List and upgrades Baker Hughes (BHI) to Outperform with a $54 price target (from $40). Comment! [Energy, Quick Ideas]
Wednesday, April 24, 9:53 AM More praise for Halliburton (HAL +3.6%) after Q1 earnings, as Credit Suisse adds the stock to its Focus List, seeing HAL strongly positioned for a re-acceleration of North American drilling activity in H2 and beyond as the chemical renaissance and new modes of transportation lead to increased demand for nat gas. Societe Generale sees an attractive entry point, and upgrades HAL to Buy from Hold. (earlier) Comment! [Energy, Quick Ideas, On the Move]
Tuesday, April 23, 11:29 AM Analysts’ accolades for Halliburton (HAL +1%) start pouring in a day after the oilfield services company beat Q1 estimates, Sterne Agee raises its expectations on FY 2013 EPS to $3.10 from $2.95, while Cowen ups its outlook to $3.25 from $3.15 and hikes its price target on shares to $57 from $50. Wall Street had been worried about prospects for onshore North America, but results surprised to the upside. Comment! [Energy]
Monday, April 22, 3:17 PM Even as Halliburton (HAL +5.4%) adds $1B to reserves tied to litigation involving the 2010 Deepwater Horizon rig explosion on top of the $300M it had already set aside, analysts are looking ahead to an eventual resolution. Barclays believes the progress outweighs additional potential settlement costs, Simmons sees higher expectations for the stock, and UBS likes the significant margin traction in North America and expects international growth to continue to outpace peers. Comment! [Energy, On the Move]
Monday, April 22, 11:27 AM Florida filed a lawsuit Saturday against BP and Halliburton (HAL) over the 2010 Gulf of Mexico oil spill; Mississippi sued on Friday, joining Alabama and Louisiana, which are part of a federal trial in New Orleans against BP and its contractors. The suit, among other things, faults BP for not changing the batteries on the rig’s blowout preventer, and accuses HAL of installing faulty cement barriers. 14 Comments [Energy]
Monday, April 22, 7:51 AM More on Halliburton (HAL) Q1 earnings: North American margins improved about 400 bps sequentially; company expects margins to continue to expand throughout the rest of the year. "We believe we may see modest pricing increases as customers adopt new technology to improve well production." Shares +4.8% premarket. (PR) Comment! [Energy, Earnings, On the Move]
Monday, April 22, 7:14 AM Halliburton (HAL): Q1 adj. EPS of $0.67 beats by $0.10. Revenue of $6.97B (+1.5% Y/Y) beats by $80M. (PR) Comment! [Earnings, Energy]
Monday, April 22, 12:05 AM Notable earnings before Monday’s open: BEAV, BOH, CAT, CHKP, HAL, HAS, NVR, PHG, SIX Comment! [Earnings]
Sunday, April 21, 5:30 PM Notable earnings before Monday’s open: BEAV, BOH, CAT, CHKP, HAL, HAS, NVR, PHG, SIX 1 Comment [Earnings]
Thursday, April 18, 5:14 PM Despite the weak YTD start in oil service companies Baker Hughes (BHI), Halliburton (HAL), Schlumberger (SLB) and Weatherford (WFT), Barclays analyst James West makes a strong case for all four in the months ahead. The group trades at 13.2x forward earnings, ~20% less than the 10-year average, and shares also are cheap relative to commodity prices, West says. Comment! [Energy, Quick Ideas]
Thursday, April 18, 11:22 AM The first phase of the trial to determine blame for BP's Gulf of Mexico oil spill ended yesterday, with the judge allowing 80 days to determine findings and conclusions. Among the few surprises was Halliburton's (HAL) legal team angering the judge when it said the company had discovered evidence that should have been provided earlier, which may have helped BP's argument that many others played a role in the accident. 2 Comments [Energy]
Wednesday, April 17, 6:01 PM A widely expected Q1 rebound for oil services companies (OIH) is not materializing, analysts say, as the U.S. land rig count fell ~3% Q/Q in Q1 and was 13% lower Y/Y. Now the view is that recovery will be slower rather than faster. Fresh off a wave of downward analyst revisions, Schlumberger (SLB) and Baker Hughes (BHI) report on Friday, while Halliburton (HAL) posts earnings next week. Comment! [Energy]

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