Halliburton (NYSE:HAL) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Halliburton (NYSE:HAL) announced its quarterly earnings data on Tuesday. The oilfield services company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01, FiscalAI reports. The firm had revenue of $5.71 billion during the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.

Halliburton Price Performance

Shares of HAL opened at $35.20 on Tuesday. The firm has a market cap of $29.40 billion, a PE ratio of 19.34, a PEG ratio of 1.63 and a beta of 0.71. The firm’s 50 day moving average price is $37.61 and its 200 day moving average price is $36.38. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08. Halliburton has a twelve month low of $20.17 and a twelve month high of $43.59.

Halliburton Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Investors of record on Wednesday, June 3rd were issued a $0.17 dividend. The ex-dividend date was Wednesday, June 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. Halliburton’s dividend payout ratio is currently 37.36%.

More Halliburton News

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton landed a contract from Basra Oil Company to provide integrated field management and engineering services for the Bin Umar and Sindbad oil and gas fields in southern Iraq, adding to its international project backlog and reinforcing demand for its services. Basra Oil Company Awards Halliburton Contract to Advance Oil and Gas Development in Southern Iraq
• Positive Sentiment: Halliburton also signed a deal to support development of two Iraq fields, which should help support revenue visibility and suggests customers are still investing in upstream oil and gas projects. Halliburton signs deal to support development of two Iraq fields
• Positive Sentiment: Analyst coverage ahead of earnings has pointed to expectations for roughly $0.54 per share in Q2 earnings and about $5.5 billion in revenue, with some market watchers maintaining a constructive view on HAL into the report. Halliburton Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts
• Neutral Sentiment: Halliburton is set to report earnings soon, and investors are focused on whether global oilfield demand and pricing can hold up despite disruption in the Middle East and broader sector volatility. Halliburton (NYSE:HAL) Earnings Put Global Oilfield Demand In Focus
• Negative Sentiment: Several reports suggest oilfield-service companies, including Halliburton, could face earnings pressure from war-related disruptions in the Middle East, with analysts warning of a potential hit to bottom-line results. Oil-Service Companies Set to Reveal War’s Impact on Earnings
• Negative Sentiment: Energy stocks were generally weaker in premarket trading, which can weigh on Halliburton sentiment even if company-specific news is positive. Sector Update: Energy Stocks Lean Lower Premarket Monday

Insider Transactions at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 198,349 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $41.29, for a total value of $8,189,830.21. Following the completion of the sale, the executive vice president directly owned 146,186 shares of the company’s stock, valued at $6,036,019.94. The trade was a 57.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $42.00, for a total transaction of $363,510.00. Following the transaction, the vice president owned 72,976 shares in the company, valued at approximately $3,064,992. This trade represents a 10.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 258,255 shares of company stock valued at $10,550,535. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Institutional investors have recently bought and sold shares of the stock. Mcguire Capital Advisors Inc. acquired a new position in shares of Halliburton during the 4th quarter valued at about $71,000. Corient Private Wealth LLC lifted its holdings in Halliburton by 19.8% in the 4th quarter. Corient Private Wealth LLC now owns 150,948 shares of the oilfield services company’s stock worth $3,960,000 after purchasing an additional 24,905 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Halliburton by 13.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 142,689 shares of the oilfield services company’s stock worth $4,032,000 after purchasing an additional 16,590 shares during the last quarter. Vident Advisory LLC lifted its holdings in Halliburton by 6.3% in the 4th quarter. Vident Advisory LLC now owns 94,463 shares of the oilfield services company’s stock worth $2,670,000 after purchasing an additional 5,583 shares during the last quarter. Finally, Beacon Pointe Advisors LLC bought a new stake in Halliburton during the fourth quarter worth approximately $280,000. 85.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on HAL shares. Wall Street Zen downgraded shares of Halliburton from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 3rd. Argus increased their target price on shares of Halliburton from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, April 23rd. Evercore lifted their target price on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Jefferies Financial Group restated a “buy” rating and set a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Finally, Zephirin Group upped their price target on shares of Halliburton from $30.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, April 22nd. Nineteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.