Q2 2024 Earnings Forecast for Halliburton Issued By Capital One Financial (NYSE:HAL)

Halliburton (NYSE:HAL) – Research analysts at Capital One Financial reduced their Q2 2024 earnings per share (EPS) estimates for shares of Halliburton in a report released on Tuesday, April 23rd. Capital One Financial analyst D. Becker now forecasts 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.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.06. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The business had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.78 billion. During the same period last year, the business posted $0.72 EPS. The business’s revenue was up 2.8% compared to the same quarter last year.

HAL has been the topic of a number of other reports. Barclays cut their price target on Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Halliburton in a research report on Wednesday, January 24th. Susquehanna reissued a “positive” rating and issued a $49.00 price objective on shares of Halliburton in a research report on Monday, April 8th. Raymond James lowered their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Finally, Morgan Stanley raised their price objective on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $49.00.

Halliburton Trading Down 0.4 %

Shares of NYSE:HAL opened at $38.58 on Wednesday. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The business’s fifty day simple moving average is $37.66 and its 200-day simple moving average is $37.39. The company has a market capitalization of $34.20 billion, a PE ratio of 13.17, a P/E/G ratio of 0.99 and a beta of 2.00. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81.

Insider Activity

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction dated 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 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 is accessible through this link. In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, 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 the business’s 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 directly 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. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors increased its stake in shares of Halliburton by 0.4% in the 4th quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock valued at $4,394,077,000 after purchasing an additional 479,877 shares in the last quarter. Sanders Capital LLC increased its stake in shares of Halliburton by 3.4% in the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after purchasing an additional 782,093 shares in the last quarter. Norges Bank purchased a new position in shares of Halliburton in the 4th quarter valued at about $400,070,000. Northern Trust Corp increased 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 purchasing an additional 265,680 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Halliburton by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after purchasing an additional 448,548 shares in the last quarter. Hedge funds and other institutional investors 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.