Halliburton (NYSE:HAL) Expected to Earn Q2 2024 Earnings of $0.80 Per Share

Halliburton (NYSE:HAL) – Stock analysts at Atb Cap Markets decreased their Q2 2024 EPS estimates for Halliburton in a research report issued to clients and investors on Thursday, June 27th. Atb Cap Markets analyst W. Syed now expects that the oilfield services company will post earnings of $0.80 per share for the quarter, down from their prior forecast of $0.81. The consensus estimate for Halliburton’s current full-year earnings is $3.37 per share. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.88 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.35 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.03 EPS, FY2025 earnings at $3.92 EPS, Q1 2026 earnings at $0.99 EPS and FY2026 earnings at $4.15 EPS.

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

A number of other brokerages have also weighed in on HAL. Morgan Stanley boosted their price objective on shares of Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, April 23rd. Susquehanna reissued a “positive” rating and set a $49.00 price objective on shares of Halliburton in a report on Monday, April 8th. Jefferies Financial Group upped their price target on shares of Halliburton from $49.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen upped their price target on shares of Halliburton from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Citigroup lowered their price target on shares of Halliburton from $50.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Halliburton currently has an average rating of “Buy” and a consensus target price of $48.75.

Halliburton Price Performance

NYSE HAL opened at $33.62 on Monday. The firm’s fifty day simple moving average is $35.79 and its two-hundred day simple moving average is $36.33. The company has a current ratio of 2.12, a quick ratio of 1.52 and a debt-to-equity ratio of 0.79. Halliburton has a 12-month low of $32.35 and a 12-month high of $43.85. The firm has a market capitalization of $29.76 billion, a P/E ratio of 11.63, a P/E/G ratio of 0.86 and a beta of 1.93.

Halliburton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were issued a $0.17 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.02%. Halliburton’s payout ratio is 23.53%.

Insider Buying and Selling at Halliburton

In other Halliburton news, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total value of $1,437,701.72. Following the completion of the sale, the insider now owns 130,783 shares in the company, valued at approximately $4,828,508.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Jill D. Sharp sold 3,346 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the sale, the senior vice president now owns 40,185 shares of the company’s stock, valued at approximately $1,486,845. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the completion of the sale, the insider now directly owns 130,783 shares of the company’s stock, valued at approximately $4,828,508.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,287 shares of company stock worth $1,930,704. Insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

Hedge funds have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Halliburton during the 1st quarter worth approximately $26,000. IAG Wealth Partners LLC purchased a new stake in shares of Halliburton during the first quarter worth $30,000. Johnson Financial Group Inc. purchased a new position in Halliburton in the fourth quarter valued at $33,000. Ancora Advisors LLC grew its stake in Halliburton by 443.8% during the 3rd quarter. Ancora Advisors LLC now owns 881 shares of the oilfield services company’s stock worth $36,000 after purchasing an additional 719 shares in the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in Halliburton during the 4th quarter worth about $36,000. Hedge funds and other institutional investors own 85.23% of the company’s stock.

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.