FY2024 EPS Estimates for Halliburton Cut by Zacks Research

Halliburton (NYSE:HAL) – Investment analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Halliburton in a report released on Monday, December 23rd. Zacks Research analyst R. Department now forecasts that the oilfield services company will post earnings per share of $2.99 for the year, down from their previous estimate of $3.00. The consensus estimate for Halliburton’s current full-year earnings is $3.00 per share. Zacks Research also issued estimates for Halliburton’s Q4 2024 earnings at $0.70 EPS, Q1 2025 earnings at $0.71 EPS, Q2 2025 earnings at $0.75 EPS, Q3 2025 earnings at $0.77 EPS, Q4 2025 earnings at $0.79 EPS, FY2025 earnings at $3.02 EPS, Q1 2026 earnings at $0.72 EPS, Q2 2026 earnings at $0.90 EPS, Q3 2026 earnings at $0.84 EPS and FY2026 earnings at $3.26 EPS.

Halliburton (NYSE:HAL) last released its earnings results on Thursday, November 7th. The oilfield services company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.83 billion. Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS.

HAL has been the subject of a number of other reports. Jefferies Financial Group decreased their price objective on Halliburton from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Company cut their price target on shares of Halliburton from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. The Goldman Sachs Group decreased their price objective on shares of Halliburton from $47.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Morgan Stanley cut their target price on shares of Halliburton from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Monday, November 18th. Finally, BMO Capital Markets decreased their price target on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Halliburton currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.58.

Halliburton Trading Up 2.2 %

Shares of NYSE HAL opened at $26.84 on Wednesday. The company’s 50 day simple moving average is $29.22 and its 200 day simple moving average is $30.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.21 and a quick ratio of 1.62. Halliburton has a fifty-two week low of $25.51 and a fifty-two week high of $41.56. The firm has a market capitalization of $23.58 billion, a P/E ratio of 9.35, a P/E/G ratio of 3.61 and a beta of 1.90.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.68 dividend on an annualized basis and a yield of 2.53%. Halliburton’s dividend payout ratio is 23.69%.

Institutional Investors Weigh In On Halliburton

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cary Street Partners Asset Management LLC increased its holdings in Halliburton by 56.5% during the third quarter. Cary Street Partners Asset Management LLC now owns 157,085 shares of the oilfield services company’s stock worth $4,563,000 after buying an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Halliburton by 146.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock valued at $28,455,000 after acquiring an additional 500,000 shares during the period. Mackenzie Financial Corp increased its stake in shares of Halliburton by 105.2% during the 2nd quarter. Mackenzie Financial Corp now owns 186,961 shares of the oilfield services company’s stock worth $6,316,000 after purchasing an additional 95,864 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Halliburton by 23.1% in the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock valued at $487,522,000 after purchasing an additional 3,150,986 shares during the period. Finally, Quest Partners LLC grew its holdings in Halliburton by 2,418.9% during the third quarter. Quest Partners LLC now owns 78,387 shares of the oilfield services company’s stock worth $2,277,000 after purchasing an additional 75,275 shares during the period. Institutional investors own 85.23% of the company’s stock.

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.