Halliburton Company (NYSE:HAL) released its earnings report for the three months ended June 30 this morning before the bell rang on Wall Street. The company showed earnings of $0.73 per share for the second quarter of the year on revenues of $7.32 billion. Stock in Halliburton Company (NYSE:HAL) closed at $45.83 per share last Friday.

halliburton

In the lead up to the announcement of these results, thirty-one analysts following Halliburton Company (NYSE:HAL) were looking for earnings of 72 cents per share by consensus. Revenue expectations from the same group were $7.29 billion. In the same three months of last year, Halliburton Company earned 80 cents per share on revenues of $7.2 billion.

Halliburton riding high

Halliburton Company (NYSE:HAL) shareholders have been rewarded generously for investing in the company so far in 2013. Through close on Friday July 19, the company’s stock has gained more than 32 percent since January 1. In the five trading days leading up to the announcement of today’s earnings, the company’s stock appreciated by more than 2 percent, showing a restrained optimism about this morning’s numbers

Halliburton’s performance in the first half of the year has netted it some fans among investing heavyweights. Leon Cooperman revealed just one week ago that he was looking for strong returns from the company this year. Halliburton is operating in a rapidly growing business segment, if it can beat out competitors investors will be richly rewarded.

Halliburton shares

Shares in Halliburton Company (NYSE:HAL) hit their highest price since August of 2011 on Friday’s market demonstrating the optimism investors hold about the company’s future. The stock is currently trading at 22 times 2012 earnings, making it one of the most expensive in the industry.

Full steam ahead

One of the biggest sources of optimism when it comes to Halliburton Company (NYSE:HAL) is the energy boom in North America. Over the short term, as this morning’s earnings show, the change in the market isn’t all that positive for the company, but it is expected to be a massive source of revenue in the years ahead.

Natural gas, a market that Halliburton Company (NYSE:HAL) is very exposed to, did poorly in 2013 as oversupply caused a large drop in production. Halliburton will suffer from trends like this for some quarters to come, though once the natural gas export market opens up investors seem confident the company will grow quickly off of the back of its natural gas services.

Halliburton Company (NYSE:HAL) executives will host an earnings call at 9 a.m. this morning to discuss this morning’s earnings.