Halliburton (NYSE:HAL) Expected to Post Quarterly Sales of $3.39 Billion

Wall Street analysts expect that Halliburton (NYSE:HAL) will post sales of $3.39 billion for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Halliburton’s earnings, with estimates ranging from $3.19 billion to $3.76 billion. Halliburton posted sales of $5.93 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 42.8%. The business is expected to announce its next earnings results before the market opens on Monday, July 20th.

According to Zacks, analysts expect that Halliburton will report full year sales of $14.47 billion for the current financial year, with estimates ranging from $13.54 billion to $16.12 billion. For the next financial year, analysts forecast that the company will post sales of $12.67 billion, with estimates ranging from $10.90 billion to $16.53 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Halliburton.

Halliburton (NYSE:HAL) last announced its quarterly earnings results on Monday, April 20th. The oilfield services company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.07. Halliburton had a positive return on equity of 13.50% and a negative net margin of 10.60%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $5.04 billion. During the same period in the prior year, the company earned $0.23 EPS. Halliburton’s revenue was down 12.2% compared to the same quarter last year.

A number of research analysts have recently commented on HAL shares. Piper Sandler cut Halliburton from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $28.00 to $5.00 in a research note on Friday, March 27th. Credit Suisse Group lowered their target price on Halliburton from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, April 21st. Bank of America lowered Halliburton from a “buy” rating to a “neutral” rating in a research report on Monday, March 9th. Wells Fargo & Co lowered Halliburton from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $18.00 to $8.00 in a research report on Monday, April 13th. Finally, Northland Securities started coverage on Halliburton in a research report on Friday, May 29th. They set a “market perform” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the stock. Halliburton presently has a consensus rating of “Hold” and a consensus target price of $12.17.

Shares of HAL traded up $0.10 during trading hours on Monday, reaching $12.57. The stock had a trading volume of 15,112,607 shares, compared to its average volume of 24,589,908. Halliburton has a 12 month low of $4.25 and a 12 month high of $25.47. The stock has a market capitalization of $10.94 billion, a PE ratio of -4.92 and a beta of 2.55. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.47 and a current ratio of 2.11. The company’s 50-day moving average is $12.35 and its two-hundred day moving average is $15.30.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were paid a $0.045 dividend. The ex-dividend date was Tuesday, June 2nd. This represents a $0.18 dividend on an annualized basis and a yield of 1.43%. Halliburton’s dividend payout ratio (DPR) is presently 14.52%.

In other Halliburton news, Director Murry Gerber acquired 350,000 shares of Halliburton stock in a transaction on Thursday, April 23rd. The stock was purchased at an average price of $8.68 per share, for a total transaction of $3,038,000.00. Following the purchase, the director now directly owns 574,879 shares of the company’s stock, valued at $4,989,949.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.48% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. grew its stake in Halliburton by 31.1% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 939,653 shares of the oilfield services company’s stock valued at $22,994,000 after purchasing an additional 222,972 shares during the period. Cipher Capital LP grew its stake in Halliburton by 81.8% in the 4th quarter. Cipher Capital LP now owns 148,975 shares of the oilfield services company’s stock valued at $3,645,000 after purchasing an additional 67,023 shares during the period. Prudential Financial Inc. grew its stake in shares of Halliburton by 1.0% during the 4th quarter. Prudential Financial Inc. now owns 827,954 shares of the oilfield services company’s stock worth $20,260,000 after acquiring an additional 8,390 shares during the period. Sowell Financial Services LLC grew its stake in shares of Halliburton by 62.0% during the 1st quarter. Sowell Financial Services LLC now owns 23,566 shares of the oilfield services company’s stock worth $161,000 after acquiring an additional 9,021 shares during the period. Finally, Boltwood Capital Management bought a new position in shares of Halliburton during the 1st quarter worth $95,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.

Halliburton Company Profile

Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.

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Earnings History and Estimates for Halliburton (NYSE:HAL)

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