Q2 2024 EPS Estimates for Halliburton Increased by Atb Cap Markets (NYSE:HAL)

Halliburton (NYSE:HAL) – Investment analysts at Atb Cap Markets upped their Q2 2024 earnings per share estimates for shares of Halliburton in a report issued on Tuesday, October 24th. Atb Cap Markets analyst W. Syed now forecasts that the oilfield services company will post earnings per share of $0.87 for the quarter, up from their previous estimate of $0.84. The consensus estimate for Halliburton’s current full-year earnings is $3.04 per share. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.96 EPS, FY2024 earnings at $3.58 EPS and Q2 2025 earnings at $1.00 EPS.

A number of other brokerages have also issued reports on HAL. Piper Sandler raised their target price on Halliburton from $46.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, September 11th. Royal Bank of Canada lifted their price objective on Halliburton from $43.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a research note on Tuesday. Raymond James lifted their price objective on Halliburton from $47.00 to $49.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 17th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $45.00 price objective on shares of Halliburton in a research note on Tuesday, August 1st. Fourteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Halliburton has an average rating of “Buy” and a consensus target price of $49.00.

Halliburton Stock Up 0.4 %

Halliburton stock opened at $39.60 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.14 and a quick ratio of 1.53. The stock has a market capitalization of $35.58 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.64 and a beta of 2.13. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. The business has a fifty day moving average price of $40.65 and a 200-day moving average price of $36.22.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, October 24th. The oilfield services company reported $0.79 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.85 billion. Halliburton had a return on equity of 31.61% and a net margin of 11.52%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 27th. Stockholders of record on Wednesday, September 6th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Tuesday, September 5th. Halliburton’s payout ratio is presently 21.99%.

Insider Activity

In other Halliburton news, EVP Van H. Beckwith sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.00, for a total value of $215,000.00. Following the sale, the executive vice president now owns 186,334 shares of the company’s stock, valued at $8,012,362. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Van H. Beckwith sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $43.00, for a total transaction of $215,000.00. Following the sale, the executive vice president now owns 186,334 shares of the company’s stock, valued at $8,012,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Timothy Mckeon sold 3,952 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $158,080.00. Following the transaction, the vice president now owns 53,803 shares of the company’s stock, valued at approximately $2,152,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 167,227 shares of company stock valued at $6,853,355. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Halliburton

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MCF Advisors LLC raised its holdings in Halliburton by 5.3% during the third quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock worth $188,000 after purchasing an additional 232 shares in the last quarter. Arcadia Investment Management Corp MI increased its holdings in Halliburton by 0.7% in the third quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after buying an additional 250 shares in the last quarter. Vantage Consulting Group Inc increased its holdings in Halliburton by 2.6% in the second quarter. Vantage Consulting Group Inc now owns 10,093 shares of the oilfield services company’s stock valued at $333,000 after buying an additional 256 shares in the last quarter. Syntax Advisors LLC increased its holdings in Halliburton by 2.6% in the second quarter. Syntax Advisors LLC now owns 10,093 shares of the oilfield services company’s stock valued at $333,000 after buying an additional 256 shares in the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock valued at $308,000 after buying an additional 263 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

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.