FY2024 EPS Estimates for Halliburton Cut by Zacks Research

Halliburton (NYSE:HAL) – Zacks Research lowered their FY2024 earnings per share (EPS) estimates for Halliburton in a research note issued on Monday, December 23rd. Zacks Research analyst R. Department now anticipates that the oilfield services company will earn $2.99 per share for the year, down from their prior forecast 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 issued its quarterly earnings data 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). Halliburton had a return on equity of 28.33% and a net margin of 11.04%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same quarter last year, the company earned $0.79 earnings per share. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year.

Other equities analysts have also recently issued research reports about the company. Benchmark reissued a “buy” rating and issued a $40.00 price objective on shares of Halliburton in a report on Friday, November 8th. Griffin Securities downgraded Halliburton from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Barclays reaffirmed an “equal weight” rating and set a $33.00 price objective (down previously from $43.00) on shares of Halliburton in a research note on Wednesday, December 18th. BMO Capital Markets decreased their target price on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped 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. Six equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Halliburton presently has an average rating of “Moderate Buy” and an average target price of $39.58.

Halliburton Trading Up 2.2 %

NYSE HAL opened at $26.84 on Wednesday. The company has a fifty day moving average of $29.27 and a 200 day moving average of $30.93. The company has a market capitalization of $23.58 billion, a PE ratio of 9.35, a P/E/G ratio of 3.61 and a beta of 1.90. 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 1 year low of $25.51 and a 1 year high of $41.56.

Halliburton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 26th. Shareholders of record on Wednesday, December 4th will be issued 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 payout ratio is currently 23.69%.

Institutional Investors Weigh In On Halliburton

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cary Street Partners Asset Management LLC boosted its position 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 acquiring an additional 56,707 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Halliburton by 146.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 842,355 shares of the oilfield services company’s stock worth $28,455,000 after purchasing an additional 500,000 shares during the last quarter. Mackenzie Financial Corp boosted its holdings 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. grew its position in shares of Halliburton by 23.1% in the third 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 in the last quarter. Finally, Quest Partners LLC lifted its position 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 buying an additional 75,275 shares in the last quarter. Institutional investors and hedge funds own 85.23% of the company’s stock.

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.