Equities Analysts Offer Predictions for Halliburton’s FY2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Research analysts at Capital One Financial dropped their FY2024 earnings per share (EPS) estimates for shares of Halliburton in a report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now expects that the oilfield services company will earn $3.38 per share for the year, down from their previous forecast of $3.40. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share.

A number of other equities research analysts have also issued reports on HAL. The Goldman Sachs Group increased their price target on Halliburton from $46.00 to $48.00 in a research note on Tuesday. Citigroup increased their price target on Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a research note on Wednesday, January 24th. TD Cowen increased their price target on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Susquehanna reiterated a “positive” rating and issued a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. One 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. According to MarketBeat.com, Halliburton presently has an average rating of “Buy” and a consensus price target of $48.82.

Halliburton Stock Performance

NYSE:HAL opened at $38.72 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a market capitalization of $34.32 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. Halliburton has a one year low of $27.84 and a one year high of $43.85. The business has a fifty day moving average price of $37.81 and a 200-day moving average price of $37.41.

Halliburton (NYSE:HAL) last posted its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion during 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 revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS.

Institutional Trading of Halliburton

Several institutional investors have recently added to or reduced their stakes in HAL. Capital World Investors increased its position in shares of Halliburton by 0.4% during the fourth quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock worth $4,394,077,000 after acquiring an additional 479,877 shares during the period. Sanders Capital LLC increased its position in shares of Halliburton by 3.4% during the fourth quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock worth $850,927,000 after acquiring an additional 782,093 shares during the period. Norges Bank purchased a new position in shares of Halliburton during the fourth quarter worth approximately $400,070,000. Northern Trust Corp increased its position in shares of Halliburton by 3.0% during the third quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock worth $372,687,000 after acquiring an additional 265,680 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Halliburton by 5.3% during the third 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 acquiring an additional 448,548 shares during the period. Institutional investors own 85.23% of the company’s stock.

Insider Activity at Halliburton

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

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.