Halliburton (NYSE:HAL) to Post Q2 2024 Earnings of $0.80 Per Share, Griffin Securities Forecasts

Halliburton (NYSE:HAL) – Equities researchers at Griffin Securities cut their Q2 2024 EPS estimates for shares of Halliburton in a research note issued to investors on Wednesday, April 24th. Griffin Securities analyst K. Simpson now forecasts that the oilfield services company will post earnings of $0.80 per share 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.

A number of other equities analysts also recently issued reports on HAL. Morgan Stanley lifted their price target on Halliburton from $45.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Halliburton in a report on Wednesday, January 24th. Raymond James dropped their price objective on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. The Goldman Sachs Group upped their target price on shares of Halliburton from $46.00 to $48.00 in a research note on Tuesday. Finally, StockNews.com raised shares of Halliburton from a “hold” rating to a “buy” rating in a research report on Monday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Halliburton currently has a consensus rating of “Buy” and an average price target of $48.82.

Halliburton Stock Performance

HAL opened at $38.72 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.48 and a debt-to-equity ratio of 0.79. 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 price-to-earnings ratio of 13.40, a PEG ratio of 1.00 and a beta of 2.00. The company’s fifty day moving average price is $37.81 and its two-hundred day moving average price is $37.41.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, beating 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 firm had revenue of $5.80 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 2.2% on a year-over-year basis.

Insider Activity 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 value of $13,308,100.00. Following the completion of the transaction, the chief executive officer now directly owns 759,015 shares in the company, valued at $26,793,229.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Margaret Katherine Banks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $35.30, for a total value of $176,500.00. Following the sale, the director now directly owns 9,625 shares of the company’s stock, valued at $339,762.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 759,015 shares of the company’s stock, valued at approximately $26,793,229.50. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HAL. MCF Advisors LLC raised its holdings in shares of Halliburton by 5.3% during the 3rd quarter. MCF Advisors LLC now owns 4,643 shares of the oilfield services company’s stock valued at $188,000 after buying an additional 232 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in Halliburton by 0.7% during the third quarter. Arcadia Investment Management Corp MI now owns 37,010 shares of the oilfield services company’s stock valued at $1,499,000 after buying an additional 250 shares during the period. Nvwm LLC grew its stake in shares of Halliburton by 1.2% during the third quarter. Nvwm LLC now owns 22,759 shares of the oilfield services company’s stock valued at $922,000 after buying an additional 259 shares during the last quarter. Stratos Wealth Advisors LLC increased its holdings in shares of Halliburton by 3.6% in the third quarter. Stratos Wealth Advisors LLC now owns 7,605 shares of the oilfield services company’s stock worth $308,000 after buying an additional 263 shares during the period. Finally, Lake Street Advisors Group LLC boosted its holdings in Halliburton by 2.3% during the 3rd quarter. Lake Street Advisors Group LLC now owns 11,972 shares of the oilfield services company’s stock valued at $485,000 after acquiring an additional 268 shares during the period. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

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.