Equities Analysts Offer Predictions for Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for Halliburton in a report released on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oilfield services company will post earnings per share of $0.81 for the quarter, down from their prior estimate of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share. Capital One Financial also issued estimates for Halliburton’s Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.18 EPS.

A number of other research analysts have also recently commented on HAL. Susquehanna restated a “positive” rating and issued a $49.00 price target on shares of Halliburton in a research report on Monday, April 8th. Raymond James reduced their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. UBS Group boosted their price objective on shares of Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a report on Monday. Finally, The Goldman Sachs Group increased their target price on shares of Halliburton from $46.00 to $48.00 in a report on Tuesday. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Halliburton has a consensus rating of “Buy” and an average price target of $48.82.

Halliburton Price Performance

Halliburton stock opened at $38.72 on Wednesday. The stock’s fifty day moving average price is $37.75 and its two-hundred day moving average price is $37.40. The firm has a market cap of $34.32 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. The company has a debt-to-equity ratio of 0.81, a current ratio of 2.06 and a quick ratio of 1.48. Halliburton has a one year low of $27.84 and a one year high of $43.85.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The firm had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. During the same quarter in the prior year, the business posted $0.72 EPS. The business’s revenue was up 2.2% compared to the same quarter last year.

Institutional Investors Weigh In On Halliburton

Several hedge funds and other institutional investors have recently modified their holdings of the company. MCF Advisors LLC lifted its position in shares of Halliburton by 5.3% during the third quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after purchasing an additional 232 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Halliburton by 0.7% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after purchasing an additional 250 shares in the last quarter. Nvwm LLC increased its stake in Halliburton by 1.2% in the 3rd quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock worth $922,000 after acquiring an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC raised its stake 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 purchasing an additional 263 shares in the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Halliburton by 2.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock worth $485,000 after acquiring an additional 268 shares during the last quarter. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the transaction, the director now 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 is available through this link. In other news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the sale, the director now 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. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction on Monday, March 4th. The shares were sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the completion of the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% 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.