Thursday, September 6, 2012

Ignore Halliburton Until It Gets The Market Right

Halliburton (HAL) is quickly going from a market leader in the oil services field to the one that is always wrong. Today, CFO Mark McCollum reported at a conference that domestic revenue would miss estimates. This after the company famously complained about high guar prices squeezing margins, only to load up on the product at the peak price.

The company is one of the world's leading oil service firms, with revenue approaching $29B for 2012 and a market valuation of nearly $30B.

Not surprisingly, the stock has traded down 2-3% today, especially after McCollum mentioned that the profit margins would take a 2.5 to 3 percentage point hit.

Read the full article at Seeking Alpha.


Disclosure: Long CJES and WFT. Please review the disclaimer page for more details. 



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