Halliburton (NYSE:HAL) to Incur $30 Million Foreign Currency Loss in Fiscal Q1 – HAL, BHI, WFT, RES

Halliburton Company (NYSE:HAL) reported on Monday that it will incur a $30 million foreign currency loss in the primary Q1 linked with the Venezuelan government’s devaluation of the nation’s currency.

Venezuela previous week reported that it would lower the value of the Bolivar Fuerte, or strong Bolivar, from 4.3 bolivars per dollar to 6.3 bolivars a dollar.

Halliburton reported in a filing with the Securities and Exchange Commission that they were forecasting a foreign currency loss of almost $30 million in the Q1 of 2013 as a result of the devaluation.

The company reported in the filing that net investment of Halliburton was $328 million in Venezuela, comprising $74 million in monetary assets denominated in Bolivar Fuerte.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Baker Hughes Incorporated (NYSE:BHI) fell -0.55% to settle at $45.40, Weatherford International Ltd (NYSE:WFT) moved down -2.78% to end at $12.93 while RPC, Inc. (NYSE:RES) jumped +0.06% to finish at $16.23 on Monday.

Halliburton Company (NYSE:HAL) last session’s volume of 8.82 million shares was surprisingly down than its average volume of 11.50 million shares. The stock after opening at $41.24 hit high price of $41.44 and then closed at $40.87 by scoring -0.95%.

The liquidity measure in recent quarter results of the company was recorded 2.75 as current ratio and on the other side the debt to equity ratio was 0.31 and long-term debt to equity ratio remained at 0.31. The Company had total cash of $2.48 billion at hand and a book value per share as $16.99 in the most recent quarter.

The stock’s price volatility was 1.92% for a week and 2.05% for a month as well as price volatility’s Average True Range for 14 days was 0.83 and its beta remained at 1.61.

HAL generated revenue of $28.50 billion in the previous twelve months and earned $2.58 billion. The Company showed a positive 9.08% in the net profit margin as well as in its operating margin which remained at 14.59%. Company’s annual sales growth for the past five years was 13.30%.

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