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

Halliburton (NYSE:HAL) – Capital One Financial decreased their FY2024 earnings per share (EPS) estimates for Halliburton in a research note issued to investors on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oilfield services company will post earnings per share of $3.38 for the year, down from their prior forecast of $3.40. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share.

Several other equities analysts have also recently weighed in on HAL. UBS Group lifted their price target on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley lifted their price target on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Halliburton from $46.00 to $48.00 in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a research note on Wednesday, January 24th. Finally, Citigroup lifted their price objective on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday. 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 presently has an average rating of “Buy” and a consensus target price of $48.82.

Halliburton Price Performance

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

Halliburton (NYSE:HAL) last announced its quarterly 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. The company had revenue of $5.80 billion during the quarter, compared to analysts’ expectations of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 earnings per share.

Institutional Investors Weigh In On Halliburton

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strategy Asset Managers LLC lifted its stake in shares of Halliburton by 25.3% in the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock valued at $797,000 after acquiring an additional 4,086 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Halliburton in the 1st quarter valued at about $206,000. Aaron Wealth Advisors LLC bought a new stake in shares of Halliburton in the 1st quarter valued at about $235,000. Valeo Financial Advisors LLC increased its holdings in Halliburton by 4.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 9,935 shares of the oilfield services company’s stock valued at $385,000 after purchasing an additional 411 shares during the period. Finally, IAG Wealth Partners LLC purchased a new position in Halliburton during the 1st quarter valued at about $30,000. Institutional investors own 85.23% of the company’s stock.

Insiders Place Their Bets

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 sale, 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. 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.