Halliburton (NYSE:HAL) Expected to Earn Q2 2024 Earnings of $0.81 Per Share

Halliburton (NYSE:HAL) – Equities researchers at Capital One Financial lowered their Q2 2024 earnings per share estimates for shares of Halliburton in a research report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now expects that the oilfield services company will post earnings per share of $0.81 for the quarter, down from their previous estimate of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share. Capital One Financial also issued estimates for Halliburton’s Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.18 EPS.

Halliburton (NYSE:HAL) last posted 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 business had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS.

A number of other research analysts also recently commented on HAL. TD Cowen upped their price objective on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday. Barclays reduced their target price on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, January 24th. Susquehanna reiterated a “positive” rating and set a $49.00 price objective on shares of Halliburton in a research report on Monday, April 8th. The Goldman Sachs Group raised their target price on Halliburton from $46.00 to $48.00 in a research report on Tuesday. Finally, StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a report on Monday. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $48.82.

Halliburton Stock Up 0.3 %

NYSE:HAL opened at $38.72 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $37.75 and a 200-day moving average of $37.40. The firm has a market capitalization of $34.32 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.99 and a beta of 2.00. Halliburton has a 52 week low of $27.84 and a 52 week high of $43.85.

Institutional Investors Weigh In On Halliburton

Several hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Halliburton during the fourth quarter worth $400,070,000. Dimensional Fund Advisors LP increased its holdings in Halliburton by 24.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after buying an additional 1,568,485 shares during the last quarter. Sourcerock Group LLC raised its position in Halliburton by 237.6% during the third quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after acquiring an additional 1,180,406 shares in the last quarter. Wellington Management Group LLP lifted its stake in 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 valued at $224,770,000 after acquiring an additional 962,547 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Halliburton by 51.2% in the fourth quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock worth $91,787,000 after acquiring an additional 859,440 shares in the last quarter. 85.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at $26,793,229.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’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 sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by 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.