Brokers Offer Predictions for Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities researchers at Atb Cap Markets cut their Q2 2024 earnings estimates for shares of Halliburton in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst W. Syed now anticipates that the oilfield services company will post earnings of $0.81 per share for the quarter, down from their previous estimate of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.40 EPS and Q1 2025 earnings at $0.96 EPS.

Halliburton (NYSE:HAL) last issued its earnings results 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 company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.72 EPS.

Several other brokerages have also commented on HAL. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $45.00 price objective on shares of Halliburton in a research report on Wednesday. Citigroup boosted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Halliburton in a research report on Wednesday, January 24th. Finally, Morgan Stanley boosted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $48.82.

Halliburton Price Performance

Shares of NYSE HAL opened at $38.54 on Thursday. The firm has a market capitalization of $34.16 billion, a P/E ratio of 13.34, a PEG ratio of 1.00 and a beta of 2.00. Halliburton has a one year low of $27.84 and a one year high of $43.85. The company’s fifty day moving average is $37.88 and its two-hundred day moving average is $37.39. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12.

Insider Buying and Selling at Halliburton

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, 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 company’s stock in a transaction dated 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 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. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HAL. Pinnacle Associates Ltd. increased its position in Halliburton by 9.8% during the 1st quarter. Pinnacle Associates Ltd. now owns 7,867 shares of the oilfield services company’s stock worth $310,000 after purchasing an additional 703 shares in the last quarter. Mesirow Financial Investment Management Inc. acquired a new stake in Halliburton during the 1st quarter worth approximately $414,000. Strategy Asset Managers LLC increased its position in Halliburton by 25.3% during the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock worth $797,000 after purchasing an additional 4,086 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in Halliburton during the 1st quarter worth approximately $206,000. Finally, Aaron Wealth Advisors LLC acquired a new stake in Halliburton during the 1st quarter worth approximately $235,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

About Halliburton

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.