Halliburton (NYSE:HAL) Forecasted to Earn Q2 2024 Earnings of $0.81 Per Share

Aug 22, 2023

Halliburton (NYSE:HAL - Free Report) - Equities researchers at Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Halliburton in a report issued on Wednesday, August 2nd. Zacks Research analyst N. Choudhury now forecasts that the oilfield services company will post earnings per share of $0.81 for the quarter, down from their previous forecast of $0.91. The consensus estimate for Halliburton's current full-year earnings is $3.04 per share. Zacks Research also issued estimates for Halliburton's Q3 2024 earnings at $0.84 EPS and Q2 2025 earnings at $1.01 EPS.

Halliburton (NYSE:HAL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 19th. The oilfield services company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. The business had revenue of $5.80 billion for the quarter, compared to the consensus estimate of $5.85 billion. Halliburton had a return on equity of 31.01% and a net margin of 10.98%. The business's revenue was up 14.3% compared to the same quarter last year. During the same period last year, the business posted $0.49 EPS.

Several other research analysts have also commented on the stock. HSBC lowered their price objective on shares of Halliburton from $57.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, July 21st. Stifel Nicolaus cut their target price on shares of Halliburton from $49.00 to $48.00 in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an "overweight" rating and issued a $45.00 target price on shares of Halliburton in a report on Tuesday. Capital One Financial initiated coverage on shares of Halliburton in a research report on Wednesday, June 7th. They issued an "overweight" rating and a $41.00 price objective for the company. Finally, StockNews.com cut Halliburton from a "buy" rating to a "hold" rating in a report on Friday, May 26th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Halliburton has an average rating of "Buy" and a consensus price target of $47.47.

Read Our Latest Analysis on HAL

Halliburton stock traded up $0.17 during mid-day trading on Friday, hitting $39.86. The company had a trading volume of 2,675,458 shares, compared to its average volume of 9,411,796. The company has a current ratio of 2.14, a quick ratio of 1.53 and a debt-to-equity ratio of 0.91. The company's fifty day moving average is $34.23 and its 200-day moving average is $34.42. Halliburton has a 12-month low of $23.30 and a 12-month high of $43.42. The company has a market capitalization of $35.82 billion, a price-to-earnings ratio of 14.59, a P/E/G ratio of 0.65 and a beta of 2.17.

Several large investors have recently bought and sold shares of HAL. Sei Investments Co. increased its position in shares of Halliburton by 259.5% during the 1st quarter. Sei Investments Co. now owns 166,407 shares of the oilfield services company's stock valued at $6,281,000 after purchasing an additional 120,122 shares during the last quarter. Canada Pension Plan Investment Board increased its position in Halliburton by 70.5% in the first quarter. Canada Pension Plan Investment Board now owns 128,001 shares of the oilfield services company's stock worth $4,847,000 after buying an additional 52,933 shares during the last quarter. Prudential PLC purchased a new position in shares of Halliburton during the 1st quarter valued at $696,000. Parkside Financial Bank & Trust grew its stake in shares of Halliburton by 81.5% during the 1st quarter. Parkside Financial Bank & Trust now owns 2,347 shares of the oilfield services company's stock worth $89,000 after acquiring an additional 1,054 shares during the period. Finally, Covestor Ltd raised its stake in Halliburton by 83.7% in the 1st quarter. Covestor Ltd now owns 3,384 shares of the oilfield services company's stock valued at $128,000 after acquiring an additional 1,542 shares during the period. 84.79% of the stock is currently owned by institutional investors.

In related news, insider Myrtle L. Jones sold 10,000 shares of the firm's stock in a transaction on Monday, July 24th. The stock was sold at an average price of $38.30, for a total transaction of $383,000.00. Following the completion of the transaction, the insider now directly owns 57,126 shares of the company's stock, valued at approximately $2,187,925.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Jill D. Sharp sold 3,686 shares of the stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $38.00, for a total transaction of $140,068.00. Following the transaction, the senior vice president now directly owns 52,109 shares of the company's stock, valued at $1,980,142. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Myrtle L. Jones sold 10,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $38.30, for a total value of $383,000.00. Following the completion of the transaction, the insider now owns 57,126 shares in the company, valued at approximately $2,187,925.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 363,623 shares of company stock valued at $11,429,183. 0.60% of the stock is currently owned by insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 28th. Investors of record on Wednesday, June 7th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.61%. The ex-dividend date was Tuesday, June 6th. Halliburton's dividend payout ratio (DPR) is presently 23.53%.

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.

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