Momentum Stocks Try To Beat Views: Halliburton (NYSE:HAL), Resolute Energy (NYSE:REN)

Halliburton Company (NYSE:HAL) [Trend Analysis] plunged reacts as active mover, shares a decrease -0.42% to traded at $54.84 and the percentage gap between open changing to regular change was -0.05%. Halliburton (HAL) reported that an contract to settle the Erica P. John Fund class action lawsuit that has been pending in the District Court for the Northern District of Texas for over 14 years.

The company will fund approximately $54 million of the $100 million settlement fund, and its insurer will fund the balance. The company noted that the Lead Plaintiff’s counsel is expected to seek an award of fees and costs from the settlement fund.The class action lawsuit was originally filed in 2002 asserting claims in connection with accounting for long-term construction projects, and was amended in 2003 to include claims related to asbestos liability disclosures. The firm’s current ratio calculated as 3.20 for the most recent quarter. The firm past twelve months price to sales ratio was 2.79. As far as the returns are concern, the return on equity was recorded as -47.10% and return on investment was 0.40% while its return on asset stayed at -18.00%. The firm has total debt to equity ratio measured as 1.27.

Resolute Energy Corporation (NYSE:REN) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 1.36% to close at $40.87 with the total traded volume of 649146 shares. Resolute Energy Corporation (NYSE: REN) declared that it has closed its previously declared underwritten public offering of 4,370,000 shares of its common stock, which includes the full exercise by the underwriters of their option to purchase an additional 570,000 shares of common stock. The net proceeds from the offering, including as a result of the option exercise, after deducting fees and estimated expenses, were approximately $160.8 million. The Company intends to use the net proceeds from the offering to repay the Company’s second lien secured term loan, with any additional proceeds to be used to repay a portion of the borrowings outstanding under the Company’s revolving credit facility.

The common stock was offered pursuant to a prospectus supplement and an accompanying prospectus filed as part of an effective shelf registration statement filed with the Securities and Exchange Commission on Form S-3. The firm has institutional ownership of 54.20%. Its price to sales ratio ended at 5.23. REN attains analyst recommendation of 2.10 with week performance of 4.47%.

 

About Gerard Bergeron

Gerard Bergeron covers Bio-pharmacy or healthcare sector Press Releases news updates. He has extensive three year of experience in content writing as freelance writer. He performs analysis of Healthcare Companies and provides worthy information for investor community. He is an experienced writer with a precise grasp of the English language and a clear, compelling writing style.

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