Halliburton (NYSE:HAL) to Post Q3 2024 Earnings of $0.76 Per Share, Griffin Securities Forecasts

Halliburton (NYSE:HAL) – Griffin Securities decreased their Q3 2024 earnings per share estimates for shares of Halliburton in a report released on Tuesday, July 23rd. Griffin Securities analyst K. Simpson now forecasts that the oilfield services company will earn $0.76 per share for the quarter, down from their previous estimate of $0.87. The consensus estimate for Halliburton’s current full-year earnings is $3.20 per share. Griffin Securities also issued estimates for Halliburton’s Q4 2024 earnings at $0.84 EPS, FY2024 earnings at $3.15 EPS, Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.86 EPS, Q4 2025 earnings at $0.92 EPS and FY2025 earnings at $3.40 EPS.

Other analysts also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Halliburton from $45.00 to $44.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. UBS Group upped their price target on Halliburton from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Stifel Nicolaus cut their price target on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Morgan Stanley cut their price target on Halliburton from $47.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, July 22nd. Finally, The Goldman Sachs Group upped their price target on Halliburton from $46.00 to $48.00 in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus price target of $45.53.

Halliburton Price Performance

Shares of NYSE:HAL opened at $34.40 on Thursday. The business has a 50 day moving average price of $34.46 and a 200 day moving average price of $36.04. Halliburton has a twelve month low of $32.60 and a twelve month high of $43.85. The company has a market cap of $30.45 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.11 and a beta of 1.93. The company has a quick ratio of 1.54, a current ratio of 2.13 and a debt-to-equity ratio of 0.76.

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

Institutional Trading of Halliburton

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in shares of Halliburton in the first quarter valued at about $26,000. IAG Wealth Partners LLC bought a new stake in shares of Halliburton in the first quarter valued at about $30,000. Johnson Financial Group Inc. bought a new stake in shares of Halliburton in the fourth quarter valued at about $33,000. Princeton Global Asset Management LLC bought a new stake in shares of Halliburton in the fourth quarter valued at about $36,000. Finally, First United Bank & Trust bought a new stake in shares of Halliburton in the fourth quarter valued at about $36,000. 85.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Halliburton news, SVP Jill D. Sharp sold 3,346 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at $1,486,845. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Halliburton news, EVP Van H. Beckwith sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $36.75, for a total value of $367,500.00. Following the completion of the transaction, the executive vice president now directly owns 273,908 shares of the company’s stock, valued at $10,066,119. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jill D. Sharp sold 3,346 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $37.00, for a total value of $123,802.00. Following the completion of the transaction, the senior vice president now directly owns 40,185 shares of the company’s stock, valued at $1,486,845. The disclosure for this sale can be found here. Insiders sold a total of 62,287 shares of company stock valued at $2,298,204 over the last three months. Company insiders own 0.61% of the company’s stock.

Halliburton Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Investors of record on Wednesday, June 5th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, June 5th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.98%. Halliburton’s dividend payout ratio (DPR) is presently 23.53%.

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.