Zacks Research Decreases Earnings Estimates for Halliburton

Halliburton (NYSE:HAL) – Stock analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Halliburton in a note issued to investors on Thursday, November 28th. Zacks Research analyst R. Department now forecasts that the oilfield services company will post earnings of $3.00 per share for the year, down from their prior forecast of $3.12. 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 $0.71 EPS, Q1 2025 earnings at $0.72 EPS, Q2 2025 earnings at $0.76 EPS, Q3 2025 earnings at $0.79 EPS, Q4 2025 earnings at $0.80 EPS, FY2025 earnings at $3.08 EPS, Q1 2026 earnings at $0.74 EPS, Q2 2026 earnings at $0.92 EPS, Q3 2026 earnings at $0.86 EPS and FY2026 earnings at $3.35 EPS.

A number of other analysts have also weighed in on the stock. Raymond James cut their target price on shares of Halliburton from $41.00 to $37.00 and set a “strong-buy” rating on the stock in a research report on Friday, November 8th. UBS Group dropped their target price on Halliburton from $41.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Benchmark reissued a “buy” rating and set a $40.00 target price on shares of Halliburton in a report on Friday, November 8th. Susquehanna dropped their price target on shares of Halliburton from $42.00 to $40.00 and set a “positive” rating for the company in a research note on Friday, November 8th. Finally, BMO Capital Markets reduced their price objective on shares of Halliburton from $40.00 to $38.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Halliburton has a consensus rating of “Moderate Buy” and a consensus target price of $40.74.

Halliburton Stock Performance

NYSE:HAL opened at $31.86 on Monday. The stock’s 50-day simple moving average is $29.72 and its 200 day simple moving average is $31.77. Halliburton has a twelve month low of $27.26 and a twelve month high of $41.56. The company has a quick ratio of 1.62, a current ratio of 2.21 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $27.99 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 3.92 and a beta of 1.89.

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

Hedge Funds Weigh In On Halliburton

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its position in shares of Halliburton by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 20,630,361 shares of the oilfield services company’s stock worth $597,234,000 after purchasing an additional 172,505 shares in the last quarter. Pacer Advisors Inc. raised its stake in Halliburton by 23.1% during the 3rd quarter. Pacer Advisors Inc. now owns 16,782,174 shares of the oilfield services company’s stock worth $487,522,000 after buying an additional 3,150,986 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Halliburton by 20.0% in the second quarter. Dimensional Fund Advisors LP now owns 10,087,115 shares of the oilfield services company’s stock worth $340,752,000 after acquiring an additional 1,681,620 shares in the last quarter. Bank of New York Mellon Corp grew its position in Halliburton by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,342,857 shares of the oilfield services company’s stock valued at $248,042,000 after purchasing an additional 83,894 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Halliburton by 2.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,742,352 shares of the oilfield services company’s stock valued at $166,815,000 after purchasing an additional 115,504 shares in the last quarter. 85.23% of the stock is currently owned by institutional investors.

Halliburton Dividend Announcement

The firm 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. This represents a $0.68 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Wednesday, December 4th. Halliburton’s dividend payout ratio (DPR) is presently 23.69%.

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.