Atb Cap Markets Equities Analysts Lower Earnings Estimates for Halliburton (NYSE:HAL)

Halliburton (NYSE:HAL) – Analysts at Atb Cap Markets dropped their Q2 2024 earnings per share estimates for shares of Halliburton in a research note issued to investors on Tuesday, April 23rd. Atb Cap Markets analyst W. Syed now expects that the oilfield services company will post earnings per share of $0.81 for the quarter, down from their prior forecast of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 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 released its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. During the same quarter last year, the company posted $0.72 EPS. Halliburton’s revenue for the quarter was up 2.2% on a year-over-year basis.

A number of other equities research analysts have also commented on HAL. Barclays decreased their price objective on Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Halliburton in a research note on Wednesday, January 24th. Morgan Stanley raised their price target on Halliburton from $45.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. UBS Group raised their price target on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Susquehanna reaffirmed a “positive” rating and set a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. One 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’s stock. According to data from MarketBeat, Halliburton currently has a consensus rating of “Buy” and an average target price of $48.82.

Halliburton Stock Performance

Shares of NYSE HAL opened at $38.72 on Thursday. Halliburton has a one year low of $27.84 and a one year high of $43.85. The firm has a market capitalization of $34.32 billion, a PE ratio of 13.40, a PEG ratio of 0.99 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79. The business has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $37.41.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HAL. Norges Bank acquired a new stake in shares of Halliburton during the 4th quarter worth approximately $400,070,000. Dimensional Fund Advisors LP grew its holdings in shares of Halliburton by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after purchasing an additional 1,568,485 shares in the last quarter. Sourcerock Group LLC grew its holdings in shares of Halliburton by 237.6% during the 3rd 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 in the last quarter. Wellington Management Group LLP grew its holdings in shares of Halliburton by 18.3% during the 4th 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 in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Halliburton by 51.2% during the 4th quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock worth $91,787,000 after purchasing an additional 859,440 shares in the last quarter. 85.23% of the stock is owned by institutional investors.

Insider Activity at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton 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 directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 completion of the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

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.