Oilfield services provider Halliburton Company ( HAL ) on Monday posted second quarter earnings that edged slightly lower from last year, but results still topped Wall Street's expectations.
The Houston-based company reported second quarter net income of $737 million, or 79 cents per share, compared with $739 million, or 80 cents per share, in the year-ago period. Excluding special items, adjusted profit was 80 cents per share.
Revenue rose 22% from last year to $7.23 billion.
On average, Wall Street analysts expected a smaller profit of 75 cents per share, on lower revenue of $6.96 billion.
Halliburton shares were mostly flat in premarket trading Monday.
The Bottom Line
Shares of Halliburton ( HAL ) have a 1.17% dividend yield, based on Friday's closing stock price of $30.77. The stock has technical support in the $27 price area. If the shares can firm up, we see overhead resistance around the $33-$35 price levels.
Halliburton Company ( HAL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.0 out of 5 stars.
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