Halliburton Company NYSE:HAL remains undervalued as earnings today indicated.

The company posted a 50% gain in fourth quarter profit as companies increased oil exploration and production amid high oil prices.

The Houston-based company reported fourth quarter net income of $906 million, or 98 cents per share, compared with $605 million, or 66 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was $1 per share.

Revenue rose 37% to $7.06 billion.

Halliburton Company, incorporated in 1924, is an oilfield services company. The Company’s two business segments are the Completion and Production segment and the Drilling and Evaluation segment. The Company provides a range of services and products for the exploration, development, and production of oil and natural gas around the world. It conducts business in approximately 80 countries. The business operations of its divisions are around four primary geographic regions: North America, Latin America, Europe/Africa/CIS, and Middle East/Asia. During the year ended December 31, 2010, based on the location of services provided and products sold, 46% of the revenue was from the United States. It has 170 international and 109 United States field camps, from which it delivers its services and products. In October 2011, the Company acquired Multi-Chem Group LLC.

Completion and Production segment

The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, and completion services. The segment consists of production enhancement services, completion tools and services, cementing services, and Boots & Coots. The Company has manufacturing facilities in Arbroath, the United Kingdom; Johor, Malaysia; Monterrey, Mexico, and Sao Jose dos Campos, Brazil.

Drilling and Evaluation segment

The Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and precise wellbore placement solutions that enable customers to model, measure, and optimize their well construction activities. The segment consists of fluid services, drilling services, drill bits, wireline and perforating services, testing and subsea, software and asset solutions, and integrated project management and consulting services. It has manufacturing facilities in Alvarado, Texas; Nisku, Canada; Singapore, and The Woodlands, Texas.

On average, Wall Street analysts expected a slightly smaller profit of 99 cents per share, on lower revenue of $6.83 billion.

HAL also noted that operating margin rose to 20.2% from 19% last year.

Shayne Heffernan

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. www.livetradingnews.com

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Heffernan Capital Management
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