Capital One Financial Comments on Halliburton's Q2 2024 Earnings (NYSE:HAL)

Halliburton (NYSE:HAL - Free Report) - Analysts at Capital One Financial dropped their Q2 2024 earnings per share estimates for shares of Halliburton in a research note issued to investors on Tuesday, April 23rd. Capital One Financial analyst D. Becker now forecasts that the oilfield services company will post earnings per share of $0.81 for the quarter, down from their prior estimate of $0.82. The consensus estimate for Halliburton's current full-year earnings is $3.42 per share. Capital One Financial also issued estimates for Halliburton's Q4 2024 earnings at $0.94 EPS, Q1 2025 earnings at $0.95 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.08 EPS, Q4 2025 earnings at $1.12 EPS and FY2025 earnings at $4.18 EPS.

Halliburton (NYSE:HAL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The oilfield services company reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. The firm had revenue of $5.80 billion during the quarter, compared to analysts' expectations of $5.67 billion. Halliburton had a return on equity of 31.59% and a net margin of 11.46%. The firm's quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS.

A number of other analysts have also recently commented on HAL. Morgan Stanley lifted their price objective on Halliburton from $45.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday. UBS Group lifted their price target on Halliburton from $46.00 to $51.00 and gave the company a "buy" rating in a report on Tuesday. Citigroup lifted their price target on Halliburton from $45.00 to $50.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $45.00 target price on shares of Halliburton in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Halliburton currently has an average rating of "Buy" and an average target price of $48.82.

Halliburton Price Performance

Halliburton stock traded up $0.13 during midday trading on Wednesday, reaching $38.72. 7,752,998 shares of the company were exchanged, compared to its average volume of 7,155,866. The company has a market capitalization of $34.32 billion, a price-to-earnings ratio of 13.13, a P/E/G ratio of 0.99 and a beta of 2.00. The firm's 50-day simple moving average is $37.66 and its 200-day simple moving average is $37.39. Halliburton has a 1 year low of $27.84 and a 1 year high of $43.85. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.48 and a current ratio of 2.06.

Institutional Investors Weigh In On Halliburton

Institutional investors and hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB raised its position in shares of Halliburton by 271.0% during the 4th quarter. Nordea Investment Management AB now owns 768,057 shares of the oilfield services company's stock valued at $27,781,000 after acquiring an additional 561,020 shares in the last quarter. Cerity Partners LLC raised its position in shares of Halliburton by 69.5% during the 4th quarter. Cerity Partners LLC now owns 206,692 shares of the oilfield services company's stock valued at $7,472,000 after acquiring an additional 84,771 shares in the last quarter. KLCM Advisors Inc. raised its position in shares of Halliburton by 6.9% during the 4th quarter. KLCM Advisors Inc. now owns 490,230 shares of the oilfield services company's stock valued at $17,722,000 after acquiring an additional 31,534 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Halliburton by 65.4% during the 4th quarter. Vontobel Holding Ltd. now owns 57,920 shares of the oilfield services company's stock valued at $2,094,000 after acquiring an additional 22,906 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Halliburton during the 3rd quarter valued at approximately $344,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company'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 value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company's stock, valued at approximately $339,762.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Halliburton news, Director Margaret Katherine Banks sold 5,000 shares of the company'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 value of $176,500.00. Following the transaction, the director now directly owns 9,625 shares of the company's stock, valued at approximately $339,762.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Allen Miller sold 377,000 shares of the company'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 disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

About Halliburton

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.