Q2 2024 Earnings Forecast for Halliburton Issued By Capital One Financial (NYSE:HAL)

Halliburton (NYSE:HAL) – Capital One Financial dropped their Q2 2024 earnings estimates for shares of Halliburton in a report released on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oilfield services company will post earnings of $0.81 per share for the quarter, down from their previous estimate of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share. Capital One Financial also issued estimates for Halliburton’s Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.18 EPS.

A number of other equities analysts have also weighed in on the stock. Barclays decreased their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a report on Monday. UBS Group lifted their price target on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James decreased their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Finally, Susquehanna reiterated a “positive” rating and issued a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $49.00.

Halliburton Stock Down 0.4 %

HAL stock opened at $38.58 on Wednesday. The stock has a market capitalization of $34.20 billion, a P/E ratio of 13.17, a PEG ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06. Halliburton has a one year low of $27.84 and a one year high of $43.85. The company has a 50 day moving average price of $37.66 and a two-hundred day moving average price of $37.39.

Halliburton (NYSE:HAL) last released its earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. The firm had revenue of $5.74 billion during the quarter, compared to analysts’ expectations of $5.78 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. Halliburton’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS.

Institutional Investors Weigh In On Halliburton

Institutional investors have recently modified their holdings of the business. Nordea Investment Management AB boosted its stake in Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company’s stock valued at $27,781,000 after purchasing an additional 561,020 shares during the period. Cerity Partners LLC boosted its stake in Halliburton by 69.5% during the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company’s stock valued at $7,472,000 after purchasing an additional 84,771 shares during the period. KLCM Advisors Inc. boosted its stake in Halliburton by 6.9% during the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company’s stock valued at $17,722,000 after purchasing an additional 31,534 shares during the period. Vontobel Holding Ltd. boosted its stake in Halliburton by 65.4% during the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company’s stock valued at $2,094,000 after purchasing an additional 22,906 shares during the period. Finally, CX Institutional acquired a new position in Halliburton during the 3rd quarter valued at about $344,000. Institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

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