Halliburton to Post Q3 2024 Earnings of $0.76 Per Share, Atb Cap Markets Forecasts (NYSE:HAL)

Halliburton (NYSE:HAL) – Stock analysts at Atb Cap Markets dropped their Q3 2024 earnings per share (EPS) estimates for Halliburton in a note issued to investors on Sunday, July 21st. Atb Cap Markets analyst W. Syed now forecasts that the oilfield services company will post earnings of $0.76 per share for the quarter, down from their prior forecast of $0.88. The consensus estimate for Halliburton’s current full-year earnings is $3.28 per share. Atb Cap Markets also issued estimates for Halliburton’s Q4 2024 earnings at $0.83 EPS, FY2024 earnings at $3.15 EPS, Q1 2025 earnings at $0.83 EPS, Q2 2025 earnings at $0.89 EPS, Q3 2025 earnings at $0.96 EPS, Q4 2025 earnings at $1.02 EPS, FY2025 earnings at $3.70 EPS, Q1 2026 earnings at $0.97 EPS, Q2 2026 earnings at $1.00 EPS and FY2026 earnings at $4.05 EPS.

Halliburton (NYSE:HAL) last issued its earnings results on Friday, July 19th. The oilfield services company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $5.83 billion during the quarter, compared to the consensus estimate of $5.95 billion. Halliburton had a return on equity of 29.97% and a net margin of 11.61%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share.

Several other research analysts also recently commented on the company. Stifel Nicolaus lowered their target price on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Royal Bank of Canada cut their price target on Halliburton from $45.00 to $44.00 and set an “outperform” rating on the stock in a report on Monday. Barclays cut their price target on Halliburton from $54.00 to $48.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target on Halliburton from $50.00 to $49.00 and set an “overweight” rating on the stock in a report on Monday, April 29th. Finally, Morgan Stanley lowered their target price on Halliburton from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Halliburton currently has a consensus rating of “Moderate Buy” and an average price target of $45.53.

Halliburton Stock Down 1.5 %

Shares of NYSE HAL opened at $32.99 on Tuesday. The company has a current ratio of 2.13, a quick ratio of 1.54 and a debt-to-equity ratio of 0.76. The company has a market cap of $29.21 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 0.95 and a beta of 1.93. Halliburton has a 12 month low of $32.60 and a 12 month high of $43.85. The stock has a 50-day moving average price of $34.60 and a two-hundred day moving average price of $36.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HAL. Price T Rowe Associates Inc. MD grew its stake in shares of Halliburton by 46.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 61,090,055 shares of the oilfield services company’s stock worth $2,408,171,000 after acquiring an additional 19,237,784 shares during the period. Norges Bank bought a new position in shares of Halliburton during the 4th quarter worth $400,070,000. Vanguard Group Inc. boosted its stake in Halliburton by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 100,274,105 shares of the oilfield services company’s stock worth $3,952,805,000 after purchasing an additional 2,618,740 shares during the period. Dimensional Fund Advisors LP boosted its stake in Halliburton by 24.9% in 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 period. Finally, Principal Financial Group Inc. boosted its stake in Halliburton by 116.9% in the 1st quarter. Principal Financial Group Inc. now owns 2,483,230 shares of the oilfield services company’s stock worth $97,889,000 after purchasing an additional 1,338,371 shares during the period. Institutional investors own 85.23% of the company’s stock.

Insider Buying and Selling at Halliburton

In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $369,200.00. Following the completion of the transaction, the executive vice president now owns 283,908 shares in the company, valued at approximately $10,481,883.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jeffrey Shannon Slocum sold 38,941 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total transaction of $1,437,701.72. Following the completion of the transaction, the insider now owns 130,783 shares in the company, valued at approximately $4,828,508.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Van H. Beckwith sold 10,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $36.92, for a total value of $369,200.00. Following the transaction, the executive vice president now owns 283,908 shares of the company’s stock, valued at approximately $10,481,883.36. The disclosure for this sale can be found here. Insiders sold 62,287 shares of company stock worth $2,298,204 in the last quarter. 0.61% of the stock is currently owned by company insiders.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Wednesday, June 5th were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a yield of 2.06%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

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.