Griffin Securities Weighs in on Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Research analysts at Griffin Securities reduced their Q2 2024 earnings estimates for shares of Halliburton in a research note issued to investors on Wednesday, April 24th. Griffin Securities analyst K. Simpson now expects that the oilfield services company will post earnings per share of $0.80 for the quarter, down from their prior forecast of $0.85. The consensus estimate for Halliburton’s current full-year earnings is $3.41 per share. Griffin Securities also issued estimates for Halliburton’s Q3 2024 earnings at $0.87 EPS, Q4 2024 earnings at $0.92 EPS, FY2024 earnings at $3.35 EPS, Q1 2025 earnings at $0.86 EPS, Q2 2025 earnings at $0.93 EPS, Q3 2025 earnings at $0.97 EPS, Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.80 EPS.

Halliburton (NYSE:HAL) last announced its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $5.67 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Halliburton’s revenue was up 2.2% compared to the same quarter last year.

Several other equities research analysts have also commented on HAL. Susquehanna restated a “positive” rating and issued a $49.00 price target on shares of Halliburton in a report on Monday, April 8th. Benchmark reaffirmed a “buy” rating and set a $45.00 target price on shares of Halliburton in a research report on Wednesday. UBS Group boosted their price target on Halliburton from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com raised Halliburton from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Raymond James lowered 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 issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $48.82.

Halliburton Stock Performance

Shares of Halliburton stock opened at $38.72 on Friday. Halliburton has a 12 month low of $27.84 and a 12 month high of $43.85. The stock’s fifty day moving average price is $37.81 and its 200-day moving average price is $37.41. The firm has a market cap of $34.32 billion, a P/E ratio of 13.40, a P/E/G ratio of 1.00 and a beta of 2.00. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79.

Institutional Investors Weigh In On Halliburton

A number of institutional investors have recently added to or reduced their stakes in HAL. Norges Bank purchased a new position in Halliburton during the fourth quarter valued at $400,070,000. Dimensional Fund Advisors LP raised its position in shares of Halliburton by 24.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,878,811 shares of the oilfield services company’s stock worth $284,822,000 after purchasing an additional 1,568,485 shares during the last quarter. Sourcerock Group LLC lifted its stake in Halliburton by 237.6% in the 3rd quarter. Sourcerock Group LLC now owns 1,677,194 shares of the oilfield services company’s stock valued at $67,926,000 after buying an additional 1,180,406 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Halliburton by 18.3% in the 4th quarter. Wellington Management Group LLP now owns 6,217,704 shares of the oilfield services company’s stock worth $224,770,000 after buying an additional 962,547 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Halliburton by 51.2% during the 4th quarter. Jennison Associates LLC now owns 2,539,062 shares of the oilfield services company’s stock worth $91,787,000 after buying an additional 859,440 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 of the company’s stock, valued at approximately $26,793,229.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jeffrey Allen Miller sold 377,000 shares of the stock in a transaction dated Monday, March 4th. The shares were 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 directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Margaret Katherine Banks sold 5,000 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 9,625 shares of the company’s stock, valued at approximately $339,762.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

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.