Q2 2024 Earnings Estimate for Halliburton Issued By Griffin Securities (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities research analysts at Griffin Securities cut their Q2 2024 EPS estimates for Halliburton in a research report issued to clients and investors on Wednesday, April 24th. Griffin Securities analyst K. Simpson now forecasts that the oilfield services company will post earnings of $0.80 per share for the quarter, down from their prior estimate of $0.85. The consensus estimate for Halliburton’s current full-year earnings is $3.40 per share. Griffin Securities also issued estimates for Halliburton’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.80 EPS.

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

A number of other analysts also recently weighed in on the company. Morgan Stanley upped their target price on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, April 23rd. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. Raymond James dropped their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Citigroup increased their price target on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD Cowen boosted their price objective on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $48.82.

Halliburton Trading Down 0.5 %

Shares of NYSE:HAL opened at $38.54 on Friday. The business’s 50 day simple moving average is $37.88 and its 200 day simple moving average is $37.36. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The company has a market capitalization of $34.12 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.00 and a beta of 2.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC bought a new position in shares of Halliburton during the first quarter worth about $26,000. IAG Wealth Partners LLC bought a new position in Halliburton during the 1st quarter worth approximately $30,000. Ancora Advisors LLC raised its holdings in Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 719 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Halliburton in the 4th quarter worth approximately $33,000. Finally, Ogorek Anthony Joseph NY ADV boosted its stake in shares of Halliburton by 1,134.6% in the 3rd quarter. Ogorek Anthony Joseph NY ADV now owns 1,000 shares of the oilfield services company’s stock valued at $40,000 after purchasing an additional 919 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value 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 available through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, 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 SEC, 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 shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.