Halliburton Forecasted to Post Q2 2024 Earnings of $0.80 Per Share (NYSE:HAL)

Halliburton (NYSE:HAL) – Stock analysts at Griffin Securities reduced their Q2 2024 earnings per share estimates for shares of Halliburton in a research note issued on Wednesday, April 24th. Griffin Securities analyst K. Simpson now forecasts that the oilfield services company will post earnings of $0.80 per share for the quarter, down from their previous estimate of $0.85. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share. Griffin Securities also issued estimates for Halliburton’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.80 EPS.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Halliburton in a research note on Wednesday, January 24th. Raymond James lowered their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Morgan Stanley lifted their target price on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Citigroup boosted their price target on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, TD Cowen boosted their price target on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $48.82.

Halliburton Trading Down 0.5 %

NYSE:HAL opened at $38.54 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. Halliburton has a fifty-two week low of $27.84 and a fifty-two week high of $43.85. The stock’s 50-day moving average is $37.88 and its two-hundred day moving average is $37.39. The stock has a market cap of $34.16 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. MCF Advisors LLC lifted its holdings 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 worth $188,000 after buying an additional 232 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in shares of 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 purchasing an additional 250 shares in the last quarter. Nvwm LLC raised its stake in shares of Halliburton by 1.2% in the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after purchasing an additional 259 shares in the last quarter. Stratos Wealth Advisors LLC raised its stake in shares of 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 raised its stake in shares of Halliburton by 2.3% in the third quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after purchasing an additional 268 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Margaret Katherine Banks sold 5,000 shares of the business’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 completion of the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 completion of the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $13,308,100.00. Following the transaction, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The disclosure for this sale can be found here. Corporate insiders own 0.61% 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.