Q2 2024 EPS Estimates for Halliburton Boosted by Analyst (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities research analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Halliburton in a research note issued on Friday, May 3rd. Zacks Research analyst R. Department now forecasts that the oilfield services company will post earnings per share of $0.80 for the quarter, up from their prior forecast 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.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating 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%. Halliburton’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.72 earnings per share.

A number of other research analysts have also issued reports on HAL. UBS Group boosted their price target on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Barclays lowered their target price on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 24th. Raymond James dropped their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. StockNews.com cut shares of Halliburton from a “buy” rating to a “hold” rating in a report on Tuesday, April 30th. Finally, Citigroup boosted their target price on Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $48.59.

Halliburton Stock Up 0.5 %

HAL opened at $36.92 on Monday. The stock’s 50 day moving average price is $38.12 and its 200 day moving average price is $37.10. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.52. The stock has a market cap of $32.69 billion, a P/E ratio of 12.78, a P/E/G ratio of 0.93 and a beta of 2.01. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85.

Insiders Place Their Bets

In related news, Director Margaret Katherine Banks sold 5,000 shares of the 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 transaction, the director now owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s 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 in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the 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 disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On Halliburton

Large investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Halliburton during the 4th quarter worth $400,070,000. Dimensional Fund Advisors LP boosted its holdings in Halliburton by 24.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock valued at $284,822,000 after acquiring an additional 1,568,485 shares during the period. Principal Financial Group Inc. grew its position in shares of Halliburton by 116.9% in the first quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock valued at $97,889,000 after purchasing an additional 1,338,371 shares during the last quarter. Sourcerock Group LLC increased its stake in shares of Halliburton by 237.6% in the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock worth $67,926,000 after purchasing an additional 1,180,406 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Halliburton by 18.3% in the fourth quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock worth $224,770,000 after purchasing an additional 962,547 shares during the period. 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.