Q2 2024 Earnings Estimate for Halliburton Issued By Capital One Financial (NYSE:HAL)

Halliburton (NYSE:HAL) – Capital One Financial lowered their Q2 2024 earnings per share (EPS) estimates for Halliburton in a research report issued on Tuesday, April 23rd. Capital One Financial analyst D. Becker now anticipates that the oilfield services company will post earnings of $0.81 per share for the quarter, down from their previous forecast of $0.82. The consensus estimate for Halliburton’s current full-year earnings is $3.42 per share. Capital One Financial also issued estimates for Halliburton’s Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.18 EPS.

A number of other research analysts also recently issued reports on the company. Citigroup boosted their price target on Halliburton from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their target price on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday. StockNews.com upgraded Halliburton from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James reduced their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $48.82.

Halliburton Price Performance

Shares of NYSE:HAL opened at $38.72 on Wednesday. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The company has a market cap of $34.32 billion, a PE ratio of 13.40, a P/E/G ratio of 0.99 and a beta of 2.00. 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 stock’s 50-day moving average is $37.81 and its 200 day moving average is $37.41.

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

Insider Activity

In other news, Director Margaret Katherine Banks sold 5,000 shares of Halliburton stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the sale, the director now owns 9,625 shares of the company’s stock, valued at $339,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Halliburton news, CEO Jeffrey Allen Miller sold 377,000 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s 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 sale, the director now owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Trading of Halliburton

A number of hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Halliburton by 8.9% during the third quarter. CWM LLC now owns 23,253 shares of the oilfield services company’s stock worth $942,000 after purchasing an additional 1,910 shares in the last quarter. IFP Advisors Inc increased its position in shares of Halliburton by 185.6% during the third quarter. IFP Advisors Inc now owns 12,706 shares of the oilfield services company’s stock worth $515,000 after purchasing an additional 8,257 shares in the last quarter. Impact Partnership Wealth LLC acquired a new position in shares of Halliburton during the third quarter worth $45,000. Meridian Wealth Management LLC increased its position in shares of Halliburton by 14.7% during the third quarter. Meridian Wealth Management LLC now owns 37,272 shares of the oilfield services company’s stock worth $1,510,000 after purchasing an additional 4,764 shares in the last quarter. Finally, Caprock Group LLC increased its position in shares of Halliburton by 26.4% in the 3rd quarter. Caprock Group LLC now owns 25,766 shares of the oilfield services company’s stock valued at $1,044,000 after acquiring an additional 5,384 shares during the period. Hedge funds and other institutional investors own 85.23% 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.