Zacks Research Weighs in on Halliburton’s Q2 2023 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL – Get Rating) – Research analysts at Zacks Research increased their Q2 2023 earnings estimates for shares of Halliburton in a note issued to investors on Tuesday, May 9th. Zacks Research analyst N. Choudhury now expects that the oilfield services company will earn $0.74 per share for the quarter, up from their prior estimate of $0.71. The consensus estimate for Halliburton’s current full-year earnings is $3.12 per share. Zacks Research also issued estimates for Halliburton’s Q3 2023 earnings at $0.77 EPS, Q4 2023 earnings at $0.82 EPS, Q3 2024 earnings at $0.91 EPS and FY2024 earnings at $3.56 EPS.

Several other analysts have also recently issued reports on HAL. Susquehanna lowered their target price on shares of Halliburton from $57.00 to $45.00 in a research note on Monday, April 3rd. Wolfe Research raised shares of Halliburton from an “underperform” rating to an “outperform” rating and set a $51.00 target price on the stock in a report on Thursday, January 12th. Citigroup cut their price target on shares of Halliburton from $47.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, March 22nd. The Goldman Sachs Group raised their price target on shares of Halliburton from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Finally, HSBC raised their target price on shares of Halliburton from $43.90 to $57.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Halliburton presently has an average rating of “Buy” and an average target price of $48.24.

Halliburton Stock Performance

Shares of HAL stock opened at $28.49 on Thursday. The stock has a market capitalization of $25.70 billion, a P/E ratio of 13.19, a PEG ratio of 0.38 and a beta of 2.11. The company has a current ratio of 2.14, a quick ratio of 1.54 and a debt-to-equity ratio of 0.94. The firm’s 50 day moving average is $32.48 and its 200 day moving average is $36.14. Halliburton has a 12 month low of $23.30 and a 12 month high of $43.99.

Halliburton (NYSE:HAL – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The oilfield services company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.05. The business had revenue of $5.68 billion during the quarter, compared to the consensus estimate of $5.49 billion. Halliburton had a net margin of 9.04% and a return on equity of 29.38%. The firm’s quarterly revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS.

Institutional Investors Weigh In On Halliburton

Hedge funds have recently modified their holdings of the stock. EWG Elevate Inc. acquired a new stake in Halliburton in the 4th quarter valued at approximately $25,000. Ossiam raised its position in Halliburton by 1,434.1% in the 4th quarter. Ossiam now owns 629 shares of the oilfield services company’s stock valued at $25,000 after purchasing an additional 588 shares during the last quarter. Worth Asset Management LLC acquired a new stake in shares of Halliburton in the 4th quarter valued at $27,000. Bogart Wealth LLC increased its stake in shares of Halliburton by 100.0% in the 3rd quarter. Bogart Wealth LLC now owns 1,150 shares of the oilfield services company’s stock valued at $28,000 after buying an additional 575 shares during the period. Finally, Hanseatic Management Services Inc. increased its stake in shares of Halliburton by 74.1% in the 3rd quarter. Hanseatic Management Services Inc. now owns 1,266 shares of the oilfield services company’s stock valued at $31,000 after buying an additional 539 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Halliburton

In other Halliburton news, CAO Charles Jr. Geer sold 12,065 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $30.60, for a total value of $369,189.00. Following the completion of the transaction, the chief accounting officer now owns 52,817 shares in the company, valued at $1,616,200.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Halliburton news, CEO Jeffrey Allen Miller sold 271,283 shares of Halliburton stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $30.25, for a total transaction of $8,206,310.75. Following the sale, the chief executive officer now directly owns 829,230 shares in the company, valued at approximately $25,084,207.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Charles Jr. Geer sold 12,065 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $30.60, for a total value of $369,189.00. Following the transaction, the chief accounting officer now owns 52,817 shares of the company’s stock, valued at approximately $1,616,200.20. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Halliburton Company Profile

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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 Completion and Production, and Drilling and Evaluation segments. The Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion services.