Atb Cap Markets Comments on Halliburton’s Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL) – Equities research analysts at Atb Cap Markets cut their Q2 2024 earnings per share estimates for Halliburton in a research note issued on Tuesday, April 23rd. Atb Cap Markets analyst W. Syed now anticipates that the oilfield services company will post earnings per share of $0.81 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. Atb Cap Markets also issued estimates for Halliburton’s Q3 2024 earnings at $0.89 EPS, Q4 2024 earnings at $0.93 EPS, FY2024 earnings at $3.40 EPS and Q1 2025 earnings at $0.96 EPS.

Other equities research analysts also recently issued reports about the company. Benchmark reaffirmed a “buy” rating and issued a $45.00 price target on shares of Halliburton in a research report on Wednesday. Susquehanna reissued a “positive” rating and set a $49.00 target price on shares of Halliburton in a research report on Monday, April 8th. TD Cowen lifted their target price on Halliburton from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group lifted their target price on Halliburton from $46.00 to $48.00 in a research report on Tuesday. Finally, Raymond James decreased their target price on Halliburton from $49.00 to $47.00 and set a “strong-buy” rating on the stock in a research 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.com, the stock has an average rating of “Buy” and a consensus price target of $48.82.

Halliburton Trading Up 0.3 %

Shares of NYSE:HAL opened at $38.72 on Thursday. The company has a market cap of $34.32 billion, a P/E ratio of 13.40, a P/E/G ratio of 0.99 and a beta of 2.00. The stock’s 50-day moving average is $37.75 and its 200-day moving average is $37.40. Halliburton has a 52-week low of $27.84 and a 52-week high of $43.85. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.48 and a current ratio of 2.12.

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

Insider Activity

In related news, Director Margaret Katherine Banks sold 5,000 shares of the business’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 completion of the transaction, the director now owns 9,625 shares in the company, valued at approximately $339,762.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Jeffrey Allen Miller sold 377,000 shares of the business’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 owns 759,015 shares in the company, valued at approximately $26,793,229.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Margaret Katherine Banks sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $35.30, for a total transaction of $176,500.00. Following the completion of the transaction, 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. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of Halliburton

Several institutional investors and hedge funds have recently made changes to their positions in the business. Capital World Investors raised its position in shares of Halliburton by 0.4% during the 4th quarter. Capital World Investors now owns 121,551,234 shares of the oilfield services company’s stock valued at $4,394,077,000 after acquiring an additional 479,877 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Halliburton by 3.4% in the 4th quarter. Sanders Capital LLC now owns 23,538,783 shares of the oilfield services company’s stock valued at $850,927,000 after buying an additional 782,093 shares during the period. Norges Bank acquired a new position in shares of Halliburton in the 4th quarter valued at $400,070,000. Northern Trust Corp grew its holdings in shares of Halliburton by 3.0% in the 3rd quarter. Northern Trust Corp now owns 9,202,160 shares of the oilfield services company’s stock valued at $372,687,000 after buying an additional 265,680 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Halliburton by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 8,871,178 shares of the oilfield services company’s stock valued at $359,283,000 after buying an additional 448,548 shares during the period. Institutional investors own 85.23% of the company’s stock.

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.