Brokers Offer Predictions for Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Atb Cap Markets decreased their Q2 2024 earnings per share estimates for Halliburton in a report released on Tuesday, April 23rd. Atb Cap Markets analyst W. Syed now forecasts that the oilfield services company will post earnings of $0.81 per share for the quarter, down from their prior forecast of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.40 EPS and Q1 2025 earnings at $0.96 EPS.

Halliburton (NYSE:HAL) last issued its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The company had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year.

A number of other research analysts have also commented on HAL. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. Susquehanna restated a “positive” rating and issued a $49.00 target price on shares of Halliburton in a research note on Monday, April 8th. Benchmark restated a “buy” rating and issued a $45.00 target price on shares of Halliburton in a research note on Wednesday. UBS Group upped their target price on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Halliburton presently has a consensus rating of “Buy” and a consensus target price of $48.82.

Halliburton Stock Down 0.5 %

Shares of HAL stock opened at $38.54 on Thursday. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The firm has a market cap of $34.16 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The stock has a 50 day moving average of $37.88 and a 200-day moving average of $37.39. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79.

Insiders Place Their Bets

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several hedge funds have recently added to or reduced their stakes in the company. Capital World Investors boosted its holdings in Halliburton by 0.4% in the fourth quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock valued at $4,394,077,000 after acquiring an additional 479,877 shares during the last quarter. Sanders Capital LLC lifted its stake in Halliburton by 3.4% in the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after buying an additional 782,093 shares during the period. Norges Bank acquired a new position in Halliburton in the fourth quarter valued at about $400,070,000. Northern Trust Corp lifted its stake in Halliburton by 3.0% in the third quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock valued at $372,687,000 after buying an additional 265,680 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Halliburton by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after buying an additional 448,548 shares during the period. Institutional investors own 85.23% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.