Brokers Issue Forecasts for Halliburton’s FY2023 Earnings (NYSE:HAL)

Halliburton (NYSE:HALGet Rating) – Analysts at Piper Sandler increased their FY2023 EPS estimates for shares of Halliburton in a report released on Monday, April 11th. Piper Sandler analyst I. Macpherson now expects that the oilfield services company will post earnings of $2.81 per share for the year, up from their prior estimate of $2.45.

Halliburton (NYSE:HALGet Rating) last announced its quarterly earnings data on Monday, January 24th. The oilfield services company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. Halliburton had a return on equity of 16.76% and a net margin of 9.53%. The firm had revenue of $4.28 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The business’s revenue was up 32.1% on a year-over-year basis.

A number of other equities research analysts have also recently commented on the company. Cowen increased their target price on Halliburton from $33.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 25th. Royal Bank of Canada upped their price target on Halliburton from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, January 25th. Stephens increased their target price on Halliburton from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Tuesday, January 25th. TheStreet raised Halliburton from a “c” rating to a “b-” rating in a research note on Monday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on Halliburton from $32.00 to $34.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 25th. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Halliburton presently has an average rating of “Buy” and an average target price of $31.44.

Shares of HAL stock opened at $40.19 on Wednesday. The stock has a market cap of $36.19 billion, a price-to-earnings ratio of 24.66 and a beta of 2.42. The business’s fifty day moving average is $35.40 and its 200 day moving average is $28.48. Halliburton has a twelve month low of $17.82 and a twelve month high of $40.76. The company has a quick ratio of 1.76, a current ratio of 2.31 and a debt-to-equity ratio of 1.36.

A number of hedge funds and other institutional investors have recently made changes to their positions in HAL. Rather & Kittrell Inc. acquired a new position in shares of Halliburton in the 4th quarter valued at $25,000. City State Bank purchased a new stake in Halliburton during the 4th quarter worth $25,000. Sumitomo Mitsui Financial Group Inc. purchased a new stake in Halliburton during the 3rd quarter worth $26,000. MCF Advisors LLC increased its stake in Halliburton by 265.3% during the 3rd quarter. MCF Advisors LLC now owns 1,472 shares of the oilfield services company’s stock worth $32,000 after buying an additional 1,069 shares during the period. Finally, UMB Bank N A MO acquired a new position in Halliburton during the 4th quarter worth $37,000. Hedge funds and other institutional investors own 75.98% of the company’s stock.

In related news, insider Joe D. Rainey sold 14,000 shares of the stock in a transaction dated Friday, January 14th. The shares were sold at an average price of $28.50, for a total transaction of $399,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joe D. Rainey sold 20,000 shares of the stock in a transaction dated Tuesday, April 12th. The stock was sold at an average price of $40.73, for a total transaction of $814,600.00. Following the transaction, the insider now directly owns 351,299 shares of the company’s stock, valued at $14,308,408.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 325,372 shares of company stock valued at $11,780,782. Insiders own 0.61% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 2nd were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, March 1st. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Halliburton’s previous quarterly dividend of $0.05. Halliburton’s payout ratio is presently 29.45%.

About Halliburton (Get Rating)

Halliburton Co engages in the provision of services and products to the energy industry related to the exploration, development and production of oil and natural gas. It operates through the following segments: Completion and Production and Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift and completion services.

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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