Equities Analysts Offer Predictions for Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Research analysts at Griffin Securities cut their Q2 2024 earnings estimates for Halliburton in a research report issued to clients and investors on Wednesday, April 24th. Griffin Securities analyst K. Simpson now anticipates that the oilfield services company will earn $0.80 per share for the quarter, down from their previous estimate of $0.85. The consensus estimate for Halliburton’s current full-year earnings is $3.40 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.

Several other research analysts have also recently issued reports on the company. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research note on Monday, April 22nd. The Goldman Sachs Group raised their target price on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday, April 23rd. Susquehanna reaffirmed a “positive” rating and issued a $49.00 price target on shares of Halliburton in a research note on Monday, April 8th. Barclays decreased their price objective on shares of Halliburton from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Wednesday, January 24th. Finally, Citigroup upped their target price on Halliburton from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of “Buy” and an average price target of $48.82.

Halliburton Stock Performance

Shares of HAL stock opened at $38.54 on Friday. The business has a 50 day simple moving average of $37.88 and a 200 day simple moving average of $37.36. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.12 and a quick ratio of 1.48. The firm has a market capitalization of $34.12 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.00 and a beta of 2.00. Halliburton has a 12-month low of $27.84 and a 12-month high of $43.85.

Halliburton (NYSE:HAL) last posted its earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 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 analysts’ expectations of $5.67 billion. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. Halliburton’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 EPS.

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 in the fourth quarter worth approximately $400,070,000. Dimensional Fund Advisors LP lifted its position in Halliburton by 24.9% in 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 buying an additional 1,568,485 shares in the last quarter. Sourcerock Group LLC boosted its stake 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 valued at $67,926,000 after buying an additional 1,180,406 shares during the period. Wellington Management Group LLP increased its stake in shares of 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 worth $224,770,000 after acquiring an additional 962,547 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Halliburton by 51.2% during 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 Activity

In related news, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction dated 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 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 Securities & Exchange Commission, which is available at the SEC website. In other 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 owns 9,625 shares in the company, valued at $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of Halliburton stock in a transaction 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 owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by company insiders.

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.