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

Halliburton (NYSE:HAL – Get Rating) – Analysts at Jefferies Financial Group raised their FY2023 earnings per share estimates for Halliburton in a research report issued on Thursday, January 12th. Jefferies Financial Group analyst L. Byrne now expects that the oilfield services company will earn $2.98 per share for the year, up from their prior forecast of $2.97. Jefferies Financial Group has a “Buy” rating and a $40.00 price objective on the stock. The consensus estimate for Halliburton’s current full-year earnings is $2.11 per share. Jefferies Financial Group also issued estimates for Halliburton’s FY2024 earnings at $3.61 EPS and FY2025 earnings at $4.08 EPS.

Halliburton (NYSE:HAL – Get Rating) last announced its quarterly earnings data on Tuesday, October 25th. The oilfield services company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.04. Halliburton had a return on equity of 22.69% and a net margin of 9.16%. The business had revenue of $5.36 billion for the quarter, compared to analysts’ expectations of $5.33 billion.

A number of other equities research analysts also recently issued reports on the stock. Susquehanna lifted their price target on shares of Halliburton from $48.00 to $51.00 in a research report on Wednesday, October 26th. Morgan Stanley lifted their price target on shares of Halliburton from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, January 4th. Barclays lifted their price target on shares of Halliburton from $53.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, October 26th. Raymond James assumed coverage on Halliburton in a research report on Friday, December 9th. They set a “strong-buy” rating and a $53.00 price objective for the company. Finally, Piper Sandler lifted their price objective on Halliburton from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.40.

Halliburton Stock Performance

NYSE HAL opened at $42.66 on Monday. Halliburton has a 52-week low of $23.30 and a 52-week high of $43.99. The business’s 50-day moving average price is $37.87 and its 200 day moving average price is $32.61. The firm has a market cap of $38.74 billion, a P/E ratio of 22.10 and a beta of 2.15. The company has a quick ratio of 1.52, a current ratio of 2.10 and a debt-to-equity ratio of 1.04.

Institutional Trading of Halliburton

A number of institutional investors have recently made changes to their positions in HAL. Consolidated Planning Corp raised its position in Halliburton by 0.5% during the third quarter. Consolidated Planning Corp now owns 51,755 shares of the oilfield services company’s stock worth $1,274,000 after acquiring an additional 270 shares in the last quarter. Little House Capital LLC increased its holdings in shares of Halliburton by 2.2% in the third quarter. Little House Capital LLC now owns 12,591 shares of the oilfield services company’s stock valued at $310,000 after purchasing an additional 271 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Halliburton by 20.3% in the third quarter. GHP Investment Advisors Inc. now owns 1,666 shares of the oilfield services company’s stock valued at $41,000 after purchasing an additional 281 shares during the last quarter. Titleist Asset Management LTD. increased its holdings in shares of Halliburton by 1.1% in the third quarter. Titleist Asset Management LTD. now owns 26,175 shares of the oilfield services company’s stock valued at $644,000 after purchasing an additional 283 shares during the last quarter. Finally, Jacobi Capital Management LLC increased its holdings in shares of Halliburton by 1.3% in the third quarter. Jacobi Capital Management LLC now owns 23,445 shares of the oilfield services company’s stock valued at $577,000 after purchasing an additional 312 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Insider Transactions at Halliburton

In related news, EVP Van H. Beckwith sold 11,044 shares of Halliburton stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $39.50, for a total transaction of $436,238.00. Following the completion of the transaction, the executive vice president now directly owns 249,291 shares of the company’s stock, valued at approximately $9,846,994.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Van H. Beckwith sold 5,477 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The shares were sold at an average price of $39.42, for a total transaction of $215,903.34. Following the completion of the transaction, the executive vice president now owns 250,026 shares in the company, valued at $9,856,024.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Van H. Beckwith sold 11,044 shares of Halliburton stock in a transaction that occurred on Monday, December 5th. The shares were sold at an average price of $39.50, for a total transaction of $436,238.00. Following the completion of the transaction, the executive vice president now directly owns 249,291 shares in the company, valued at approximately $9,846,994.50. The disclosure for this sale can be found here. In the last three months, insiders sold 50,365 shares of company stock valued at $1,941,186. Company insiders own 0.57% of the company’s stock.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 21st. Shareholders of record on Thursday, December 8th were given a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, December 7th. This represents a $0.48 annualized dividend and a yield of 1.13%. Halliburton’s dividend payout ratio is 24.87%.

Halliburton Company Profile

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Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.