Halliburton Forecasted to Post Q2 2024 Earnings of $0.80 Per Share (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities researchers at Griffin Securities dropped their Q2 2024 EPS estimates for Halliburton in a note issued to investors on Wednesday, April 24th. Griffin Securities analyst K. Simpson now expects that the oilfield services company will post earnings per share of $0.80 for the quarter, down from their previous forecast of $0.85. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share. Griffin Securities also issued estimates for Halliburton’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.80 EPS.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share.

Several other equities analysts also recently weighed in on HAL. TD Cowen raised their price target on shares of Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Morgan Stanley raised 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. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective on shares of Halliburton in a research report on Wednesday, January 24th. Citigroup raised 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. Finally, UBS Group raised their price objective on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Halliburton currently has a consensus rating of “Buy” and an average target price of $48.82.

Halliburton Stock Performance

NYSE:HAL opened at $38.54 on Friday. The company’s 50-day moving average price is $37.88 and its 200-day moving average price is $37.39. 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 company has a market cap of $34.16 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.00 and a beta of 2.00. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of Halliburton in the first quarter valued at approximately $26,000. IAG Wealth Partners LLC purchased a new position in Halliburton in the first quarter worth approximately $30,000. Johnson Financial Group Inc. purchased a new position in Halliburton in the fourth quarter worth approximately $33,000. Ancora Advisors LLC lifted its stake in Halliburton by 443.8% in the third quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after acquiring an additional 719 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new position in Halliburton in the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton 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 completion of the sale, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s stock in a transaction that occurred on 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 owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. Company 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.