Halliburton (NYSE:HAL) Forecasted to Earn FY2024 Earnings of $3.38 Per Share

Halliburton (NYSE:HAL) – Equities research analysts at Capital One Financial cut their FY2024 EPS estimates for shares of Halliburton in a research report issued to clients and investors on Tuesday, April 23rd. Capital One Financial analyst D. Becker now expects that the oilfield services company will post earnings of $3.38 per share for the year, down from their previous estimate of $3.40. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share.

Several other equities analysts also recently weighed in on HAL. Raymond James reduced their target price on 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 upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Citigroup raised their target price on shares of Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group upped their price target on shares of Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research report 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Halliburton presently has an average rating of “Buy” and an average target price of $48.82.

Halliburton Price Performance

HAL stock opened at $38.54 on Thursday. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The company has a quick ratio of 1.48, a current ratio of 2.12 and a debt-to-equity ratio of 0.79. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The stock’s fifty day simple moving average is $37.88 and its 200-day simple moving average is $37.39.

Halliburton (NYSE:HAL) last announced its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm 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.

Hedge Funds Weigh In On Halliburton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rise Advisors LLC acquired a new position in shares of Halliburton in the first quarter worth about $26,000. IAG Wealth Partners LLC purchased a new stake in Halliburton during the 1st quarter worth approximately $30,000. Ancora Advisors LLC raised its position in shares of Halliburton by 443.8% in the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock valued at $36,000 after purchasing an additional 719 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in shares of Halliburton during the 4th quarter valued at approximately $33,000. Finally, Ogorek Anthony Joseph NY ADV grew its position in shares of Halliburton by 1,134.6% during the third quarter. Ogorek Anthony Joseph NY ADV now owns 1,000 shares of the oilfield services company’s stock worth $40,000 after buying an additional 919 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Halliburton

In related news, Director Margaret Katherine Banks sold 5,000 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 9,625 shares in the company, valued at approximately $339,762.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction that occurred on 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 sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the transaction, the director now directly owns 9,625 shares in the company, valued at $339,762.50. The disclosure for this sale can be found here. Company insiders own 0.61% 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.