Halliburton (NYSE:HAL) Issues Earnings Results

Key Points

• Halliburton beat expectations in its latest quarter, reporting EPS of $0.55 versus the $0.54 consensus and revenue of $5.71 billion versus estimates of $5.50 billion.
• The company also continues to return cash to shareholders, recently paying a quarterly dividend of $0.17 per share, or $0.68 annualized, for a yield of about 1.9%.
• Analysts remain broadly constructive on HAL, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating with an average target of $43.27.

Halliburton (NYSE:HAL - Get Free Report) released its quarterly earnings results on Tuesday. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.01, FiscalAI reports. The company had revenue of $5.71 billion during the quarter, compared to analysts' expectations of $5.50 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.

Halliburton Stock Performance

Shares of HAL opened at $35.20 on Tuesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.08 and a quick ratio of 1.54. The firm's 50 day moving average is $37.61 and its 200-day moving average is $36.38. Halliburton has a 12-month low of $20.17 and a 12-month high of $43.59. The stock has a market capitalization of $29.40 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.63 and a beta of 0.71.

Halliburton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 24th. Stockholders of record on Wednesday, June 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.9%. Halliburton's payout ratio is currently 37.36%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on HAL shares. Barclays upgraded shares of Halliburton from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $37.00 to $55.00 in a research report on Thursday, May 7th. JPMorgan Chase & Co. raised their price objective on shares of Halliburton from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. BMO Capital Markets boosted their target price on Halliburton from $42.00 to $45.00 and gave the stock a "market perform" rating in a report on Wednesday, May 13th. TD Cowen upped their target price on Halliburton from $40.00 to $48.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, Evercore increased their price target on Halliburton from $42.00 to $46.00 and gave the company an "outperform" rating in a research note on Thursday, May 28th. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.27.

Trending Headlines about Halliburton

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton landed a contract from Basra Oil Company to provide integrated field management and engineering services for the Bin Umar and Sindbad oil and gas fields in southern Iraq, adding to its international project backlog and reinforcing demand for its services. Basra Oil Company Awards Halliburton Contract to Advance Oil and Gas Development in Southern Iraq
• Positive Sentiment: Halliburton also signed a deal to support development of two Iraq fields, which should help support revenue visibility and suggests customers are still investing in upstream oil and gas projects. Halliburton signs deal to support development of two Iraq fields
• Positive Sentiment: Analyst coverage ahead of earnings has pointed to expectations for roughly $0.54 per share in Q2 earnings and about $5.5 billion in revenue, with some market watchers maintaining a constructive view on HAL into the report. Halliburton Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts
• Neutral Sentiment: Halliburton is set to report earnings soon, and investors are focused on whether global oilfield demand and pricing can hold up despite disruption in the Middle East and broader sector volatility. Halliburton NYSE: HAL Earnings Put Global Oilfield Demand In Focus
• Negative Sentiment: Several reports suggest oilfield-service companies, including Halliburton, could face earnings pressure from war-related disruptions in the Middle East, with analysts warning of a potential hit to bottom-line results. Oil-Service Companies Set to Reveal War’s Impact on Earnings
• Negative Sentiment: Energy stocks were generally weaker in premarket trading, which can weigh on Halliburton sentiment even if company-specific news is positive. Sector Update: Energy Stocks Lean Lower Premarket Monday

Insider Buying and Selling at Halliburton

In other Halliburton news, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the transaction, the director owned 15,250 shares in the company, valued at approximately $636,230. The trade was a 28.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Eric Carre sold 24,778 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 258,255 shares of company stock valued at $10,550,535. Corporate insiders own 0.57% of the company's stock.

Hedge Funds Weigh In On Halliburton

Hedge funds have recently modified their holdings of the stock. Newbridge Financial Services Group Inc. purchased a new stake in shares of Halliburton during the second quarter valued at $25,000. Kelleher Financial Advisors purchased a new position in Halliburton in the 3rd quarter worth about $25,000. Zions Bancorporation National Association UT increased its stake in Halliburton by 196.4% in the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock worth $28,000 after purchasing an additional 650 shares in the last quarter. Strive Asset Management LLC acquired a new stake in Halliburton during the 3rd quarter worth about $31,000. Finally, Rakuten Securities Inc. raised its holdings in Halliburton by 547.3% during the 2nd quarter. Rakuten Securities Inc. now owns 1,586 shares of the oilfield services company's stock worth $32,000 after buying an additional 1,341 shares during the period. 85.23% of the stock is currently owned by institutional investors and hedge funds.

Halliburton Company Profile

Halliburton is one of the world's largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company's activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.

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