Zacks Research Comments on Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Investment analysts at Zacks Research increased their Q2 2024 EPS estimates for shares of Halliburton in a report issued on Friday, May 3rd. Zacks Research analyst R. Department now anticipates that the oilfield services company will earn $0.80 per share for the quarter, up from their previous forecast of $0.79. The consensus estimate for Halliburton’s current full-year earnings is $3.39 per share. Zacks Research also issued estimates for Halliburton’s Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.37 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.98 EPS, Q4 2025 earnings at $1.01 EPS, FY2025 earnings at $3.89 EPS and Q1 2026 earnings at $1.02 EPS.

Several other equities analysts have also weighed in on HAL. TD Cowen lifted their price objective on Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Wells Fargo & Company dropped their price objective on shares of Halliburton from $50.00 to $49.00 and set an “overweight” rating for the company in a research report on Monday, April 29th. Raymond James cut their target price on shares of Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. Finally, StockNews.com cut Halliburton from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.59.

Halliburton Trading Up 0.8 %

Shares of HAL opened at $37.20 on Monday. The stock’s fifty day simple moving average is $38.16 and its 200 day simple moving average is $37.07. Halliburton has a twelve month low of $27.84 and a twelve month high of $43.85. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $32.93 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 0.93 and a beta of 2.01.

Halliburton (NYSE:HAL) last posted its quarterly earnings results on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. Halliburton had a net margin of 11.20% and a return on equity of 30.84%. The company had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter last year, the firm posted $0.72 earnings per share. Halliburton’s revenue was up 2.2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rise Advisors LLC bought a new stake in shares of Halliburton during the first quarter valued at approximately $26,000. IAG Wealth Partners LLC bought a new stake in Halliburton during the 1st quarter valued at $30,000. Johnson Financial Group Inc. bought a new position in shares of Halliburton in the fourth quarter worth $33,000. Ancora Advisors LLC increased its holdings in shares of Halliburton by 443.8% during the third 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 during the period. Finally, Princeton Global Asset Management LLC bought a new stake in shares of Halliburton during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling

In other news, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the completion of the transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated 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 owns 759,015 shares in the company, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 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.