Q2 2024 EPS Estimates for Halliburton Boosted by Zacks Research (NYSE:HAL)

Halliburton (NYSE:HAL) – Research analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Halliburton in a research note issued on Friday, May 3rd. Zacks Research analyst R. Department now expects that the oilfield services company will post earnings per share of $0.80 for the quarter, up from their previous forecast of $0.79. The consensus estimate for Halliburton’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Halliburton’s Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.37 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.89 EPS and Q1 2026 earnings at $1.02 EPS.

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

HAL has been the subject of several other research reports. Wells Fargo & Company decreased their price objective on Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a report on Monday, April 29th. The Goldman Sachs Group boosted their price objective on Halliburton from $46.00 to $48.00 in a research report on Tuesday, April 23rd. UBS Group lifted their price target on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. TD Cowen upped their price objective on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Benchmark reissued a “buy” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, April 24th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.59.

Halliburton Stock Performance

Shares of Halliburton stock opened at $36.92 on Monday. The business has a 50-day simple moving average of $38.12 and a 200 day simple moving average of $37.10. Halliburton has a one year low of $27.84 and a one 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 1.52. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 0.93 and a beta of 2.01.

Insider Buying and Selling

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

Hedge Funds Weigh In On Halliburton

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Halliburton in the fourth quarter worth about $400,070,000. Dimensional Fund Advisors LP boosted its stake in Halliburton by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock valued at $284,822,000 after purchasing an additional 1,568,485 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Halliburton by 116.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after buying an additional 1,338,371 shares in the last quarter. Sourcerock Group LLC raised its holdings in shares of Halliburton by 237.6% during the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after purchasing an additional 1,180,406 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Halliburton by 18.3% in the fourth quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock worth $224,770,000 after acquiring an additional 962,547 shares during the period. Institutional investors own 85.23% of the company’s stock.

About Halliburton

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.