Before Monday’s opening bell, Halliburton (HAL) released its first quarter financial results. Here’s what the results mean for mutual fund investors.
Inside HAL's Results
Halliburton (HAL ) reported a net loss of $639 million, or 75 cents per share. Adjusted earnings were $418 million, or 49 cents per share, compared to $623 million, or 73 cents per share,a year ago. Analysts expected to see EPS of 37 cents.
Revenue for the quarter was $7.1 billion from $7.3 billion last year. Analysts expected to see revenue of $6.99 billion.
Lower Oil Prices
The oil and gas company fell into a loss for the first quarter of 2015 due to the decline of energy prices. The drop in prices has brought down shares of HAL nearly 23% in the last 12 months. HAL, which is currently involved in a pending merger deal with Baker Hughes (BHI), has announced plans to cut its workforce by about 6,400 jobs.
Mutual Funds to Watch
Investors considering a stake in HAL may be interested in the funds listed below. These funds currently hold the largest stakes in the company.
|VTSMX||Vanguard Total Stock Market Index||1.67%|
|VFINX||Vanguard 500 Index||1.13%|
The Bottom Line
The funds above offer investors exposure to a diverse group of securities and industries. Investors interested in HAL may also be interested in Baker Hughes (BHI)
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