Zacks Research Research Analysts Lower Earnings Estimates for Halliburton (NYSE:HAL)

Halliburton (NYSE:HALFree Report) – Equities researchers at Zacks Research lowered their Q1 2024 EPS estimates for Halliburton in a research note issued on Friday, February 9th. Zacks Research analyst R. Department now forecasts that the oilfield services company will post earnings of $0.74 per share for the quarter, down from their prior estimate of $0.75. The consensus estimate for Halliburton’s current full-year earnings is $3.43 per share. Zacks Research also issued estimates for Halliburton’s Q2 2024 earnings at $0.79 EPS, Q4 2024 earnings at $0.95 EPS and FY2026 earnings at $4.31 EPS.

Several other equities research analysts also recently commented on the stock. TD Cowen boosted their target price on shares of Halliburton from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 target price on shares of Halliburton in a research report on Wednesday, January 24th. Atb Cap Markets downgraded shares of Halliburton from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 22nd. StockNews.com upgraded shares of Halliburton from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James cut their price target on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. 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 stock presently has an average rating of “Buy” and an average target price of $48.63.

View Our Latest Stock Report on Halliburton

Halliburton Trading Up 0.0 %

HAL opened at $34.52 on Monday. Halliburton has a 1-year low of $27.84 and a 1-year high of $43.85. 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 company has a market cap of $30.73 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.86 and a beta of 2.01. The company has a fifty day moving average price of $35.44 and a two-hundred day moving average price of $38.27.

Halliburton (NYSE:HALGet Free Report) last posted its quarterly earnings results on Tuesday, January 23rd. The oilfield services company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. Halliburton had a net margin of 11.46% and a return on equity of 31.59%. The firm had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.78 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year.

Halliburton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th will be given a dividend of $0.17 per share. The ex-dividend date is Tuesday, March 5th. This represents a $0.68 annualized dividend and a yield of 1.97%. This is a boost from Halliburton’s previous quarterly dividend of $0.16. Halliburton’s dividend payout ratio is presently 23.21%.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors grew its stake in shares of Halliburton by 47.1% in the second quarter. Capital World Investors now owns 114,407,642 shares of the oilfield services company’s stock worth $3,774,308,000 after acquiring an additional 36,640,866 shares during the period. Norges Bank purchased a new position in shares of Halliburton in the fourth quarter worth approximately $457,245,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Halliburton by 123.0% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 15,936,342 shares of the oilfield services company’s stock valued at $627,088,000 after purchasing an additional 8,791,319 shares in the last quarter. Morgan Stanley lifted its holdings in Halliburton by 65.5% during the fourth quarter. Morgan Stanley now owns 17,217,776 shares of the oilfield services company’s stock valued at $677,520,000 after purchasing an additional 6,815,373 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Halliburton by 140.4% during the first quarter. Thrivent Financial for Lutherans now owns 3,737,112 shares of the oilfield services company’s stock valued at $118,242,000 after purchasing an additional 2,182,602 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

Halliburton Company Profile

(Get Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates in 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; 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; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning.

Featured Articles

Earnings History and Estimates for Halliburton (NYSE:HAL)

Receive News & Ratings for Halliburton Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Halliburton and related companies with MarketBeat.com's FREE daily email newsletter.