Atb Cap Markets Equities Analysts Lower Earnings Estimates for Halliburton (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities research analysts at Atb Cap Markets dropped their Q2 2024 earnings per share estimates for shares of Halliburton in a research note issued on Tuesday, April 23rd. Atb Cap Markets analyst W. Syed now anticipates that the oilfield services company will post earnings of $0.81 per share for the quarter, down from their prior forecast of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.40 EPS and Q1 2025 earnings at $0.96 EPS.

Several other brokerages also recently commented on HAL. The Goldman Sachs Group lifted their target price on Halliburton from $46.00 to $48.00 in a report on Tuesday. Citigroup lifted their target price on Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Susquehanna reaffirmed a “positive” rating and set a $49.00 target price on shares of Halliburton in a report on Monday, April 8th. Morgan Stanley lifted their target price on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, UBS Group lifted their target price on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday. One equities 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.com, the stock has a consensus rating of “Buy” and a consensus price target of $48.82.

Halliburton Price Performance

Shares of HAL opened at $38.72 on Thursday. The company has a market capitalization of $34.32 billion, a PE ratio of 13.40, a PEG ratio of 0.99 and a beta of 2.00. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock’s 50-day moving average price is $37.81 and its two-hundred day moving average price is $37.41. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79.

Halliburton (NYSE:HAL) last issued its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The business had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. Halliburton’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Insider Buying and Selling

In related news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $35.30, for a total transaction of $13,308,100.00. Following the transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Trading of Halliburton

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in Halliburton by 0.4% during the 4th quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock worth $4,394,077,000 after purchasing an additional 479,877 shares in the last quarter. Sanders Capital LLC increased its holdings in Halliburton by 3.4% during the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after purchasing an additional 782,093 shares in the last quarter. Norges Bank bought a new stake in Halliburton during the 4th quarter worth approximately $400,070,000. Northern Trust Corp increased its holdings in Halliburton by 3.0% during the 3rd quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock worth $372,687,000 after purchasing an additional 265,680 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Halliburton by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock worth $359,283,000 after purchasing an additional 448,548 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Halliburton Company Profile

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.