Brokers Offer Predictions for Halliburton’s FY2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Capital One Financial lowered their FY2024 earnings per share estimates for shares of Halliburton in a research report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now forecasts that the oilfield services company will earn $3.38 per share for the year, down from their prior estimate of $3.40. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share.

Several other analysts have also weighed in on the stock. 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 report on Tuesday. Citigroup lifted their price objective on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a report on Monday, April 22nd. Susquehanna restated a “positive” rating and issued a $49.00 target price on shares of Halliburton in a research note on Monday, April 8th. Finally, Barclays reduced their price target on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $48.82.

Halliburton Trading Down 0.5 %

Shares of Halliburton stock opened at $38.54 on Thursday. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85. The stock has a market capitalization of $34.16 billion, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. The company has a 50-day simple moving average of $37.88 and a 200 day simple moving average of $37.39. 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 (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analyst estimates of $5.67 billion. Halliburton had a return on equity of 30.84% and a net margin of 11.20%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 earnings per share.

Hedge Funds Weigh In On Halliburton

Several institutional investors have recently modified their holdings of the stock. Conning Inc. raised its position in shares of Halliburton by 9.5% in the 1st quarter. Conning Inc. now owns 6,752 shares of the oilfield services company’s stock valued at $266,000 after acquiring an additional 588 shares during the period. Foster Victor Wealth Advisors LLC increased its stake in Halliburton by 35.6% in the first quarter. Foster Victor Wealth Advisors LLC now owns 330,733 shares of the oilfield services company’s stock valued at $13,540,000 after purchasing an additional 86,740 shares in the last quarter. Pinnacle Associates Ltd. raised its holdings in Halliburton by 9.8% in the first quarter. Pinnacle Associates Ltd. now owns 7,867 shares of the oilfield services company’s stock worth $310,000 after purchasing an additional 703 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in shares of Halliburton during the first quarter worth $414,000. Finally, Strategy Asset Managers LLC grew its holdings in shares of Halliburton by 25.3% in the 1st quarter. Strategy Asset Managers LLC now owns 20,227 shares of the oilfield services company’s stock valued at $797,000 after buying an additional 4,086 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Halliburton

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