Zacks Research Weighs in on Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Analysts at Zacks Research upped their Q2 2024 earnings estimates for shares of Halliburton in a note issued to investors on Friday, May 3rd. Zacks Research analyst R. Department now expects that the oilfield services company will earn $0.80 per share for the quarter, up from their previous estimate of $0.79. The consensus estimate for Halliburton’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Halliburton’s Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.37 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.89 EPS and Q1 2026 earnings at $1.02 EPS.

Several other equities research analysts also recently weighed in on the stock. Citigroup upped their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. TD Cowen raised their price objective on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Susquehanna reissued a “positive” rating and set a $49.00 target price on shares of Halliburton in a report on Monday, April 8th. Raymond James lowered their price target on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Finally, UBS Group upped their price objective on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.59.

Halliburton Trading Up 0.1 %

NYSE:HAL opened at $36.73 on Monday. The stock has a market cap of $32.52 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 0.93 and a beta of 2.01. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.52 and a current ratio of 2.12. 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 of $38.08 and a 200-day moving average of $37.14.

Halliburton (NYSE:HAL) last issued its quarterly earnings data 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. The business 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%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS.

Insider Activity at Halliburton

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $35.30, for a total value of $13,308,100.00. Following the completion of the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 directly owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On Halliburton

Institutional investors have recently modified their holdings of the stock. Capital World Investors raised its holdings 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 in the last quarter. Sanders Capital LLC raised its stake in shares of 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 acquired a new stake in shares of Halliburton during the 4th quarter valued at about $400,070,000. Northern Trust Corp grew its stake in shares of Halliburton by 3.0% in the 3rd quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock valued at $372,687,000 after buying an additional 265,680 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Halliburton by 24.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after buying an additional 1,568,485 shares during the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.