Halliburton posts $1.2 billion 3Q profit

Halliburton Co. (NYSE: HAL) shares rose Monday as the oil field services company posted higher net income during the third quarter than during the same period a year earlier.

The company posted $1.2 billion in net income during the third quarter vs. $706 million during the same quarter last year. Halliburton shares rose 1 percent to $53.15 in afternoon trading.

SPONSORED CONTENT

Exploring & expressing grief

Support groups and events, as well as creative therapies and professional counseling, are all ways in which Pathways supports individuals dealing with grief and loss.

Halliburton, which has a facility in Fort Lupton and which employs more than 80,000 employees worldwide, performs hydraulic fracturing for oil companies in Weld County and elsewhere. Hydraulic fracturing, or fracking, involves pumping fluid at high pressure deep underground to extract oil and natural gas.

Halliburton posted $8.7 billion in revenue during the third quarter compared with $7.5 billion during the same quarter last year.

The company reported increased activity in North America, where its third-quarter revenue rose to $3.7 billion from $2.9 billion during the third quarter of last year.

“Our leadership in North America positions us well to take advantage of this quickly evolving market, and we continue to realize significant revenue and margin expansion in our international business,” CEO Dave Lesar said in an earnings statement.

Halliburton also announced Monday a dividend of 18 cents per share payable Dec. 26 to shareholders of record at the close of business Dec. 5. The dividend increased 20 percent from 15 cents.