Halliburton (NYSE:HAL) Announces Earnings Results

Halliburton (NYSE:HAL) released its quarterly earnings data on Tuesday. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.01, FiscalAI reports. The company had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Halliburton had a net margin of 6.95% and a return on equity of 19.04%.

Halliburton Price Performance

HAL opened at $35.20 on Tuesday. The company has a market cap of $29.40 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.63 and a beta of 0.71. Halliburton has a 52-week low of $20.17 and a 52-week high of $43.59. The company has a quick ratio of 1.54, a current ratio of 2.08 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $37.61 and a two-hundred day moving average of $36.38.

Halliburton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 24th. Shareholders of record on Wednesday, June 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, June 3rd. Halliburton’s dividend payout ratio (DPR) is 37.36%.

Insider Activity

In other Halliburton news, insider Michael Casey Maxwell sold 20,348 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total value of $852,377.72. Following the sale, the insider directly owned 93,763 shares in the company, valued at approximately $3,927,732.07. This trade represents a 17.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Tobi M. Young sold 6,125 shares of Halliburton stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $41.72, for a total value of $255,535.00. Following the sale, the director directly owned 15,250 shares in the company, valued at approximately $636,230. This trade represents a 28.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 258,255 shares of company stock worth $10,550,535 over the last 90 days. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Halliburton

A number of hedge funds have recently bought and sold shares of the company. Tocqueville Asset Management L.P. grew its position in shares of Halliburton by 1.9% during the 4th quarter. Tocqueville Asset Management L.P. now owns 21,254 shares of the oilfield services company’s stock valued at $601,000 after acquiring an additional 396 shares during the period. Guggenheim Capital LLC grew its stake in shares of Halliburton by 0.7% in the 4th quarter. Guggenheim Capital LLC now owns 57,469 shares of the oilfield services company’s stock valued at $1,624,000 after buying an additional 400 shares during the period. Hilltop Holdings Inc. raised its holdings in Halliburton by 6.9% in the 4th quarter. Hilltop Holdings Inc. now owns 8,998 shares of the oilfield services company’s stock valued at $254,000 after buying an additional 584 shares during the period. Zions Bancorporation National Association UT boosted its position in shares of Halliburton by 196.4% during the 4th quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company’s stock worth $28,000 after purchasing an additional 650 shares during the period. Finally, Summit Financial LLC boosted its stake in shares of Halliburton by 11.5% in the fourth quarter. Summit Financial LLC now owns 9,276 shares of the oilfield services company’s stock valued at $262,000 after purchasing an additional 956 shares during the period. 85.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HAL shares. Weiss Ratings reissued a “hold (c)” rating on shares of Halliburton in a research note on Wednesday, July 8th. Evercore boosted their price target on shares of Halliburton from $42.00 to $46.00 and gave the company an “outperform” rating in a research report on Thursday, May 28th. Barclays raised shares of Halliburton from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $37.00 to $55.00 in a research note on Thursday, May 7th. Jefferies Financial Group reiterated a “buy” rating and set a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Finally, Susquehanna cut their price objective on Halliburton from $45.00 to $42.00 and set a “positive” rating on the stock in a research report on Wednesday, July 8th. Nineteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Halliburton currently has an average rating of “Moderate Buy” and a consensus target price of $43.27.

Halliburton News Summary

Here are the key news stories impacting Halliburton this week:

• Positive Sentiment: Halliburton landed a contract from Basra Oil Company to provide integrated field management and engineering services for the Bin Umar and Sindbad oil and gas fields in southern Iraq, adding to its international project backlog and reinforcing demand for its services. Basra Oil Company Awards Halliburton Contract to Advance Oil and Gas Development in Southern Iraq
• Positive Sentiment: Halliburton also signed a deal to support development of two Iraq fields, which should help support revenue visibility and suggests customers are still investing in upstream oil and gas projects. Halliburton signs deal to support development of two Iraq fields
• Positive Sentiment: Analyst coverage ahead of earnings has pointed to expectations for roughly $0.54 per share in Q2 earnings and about $5.5 billion in revenue, with some market watchers maintaining a constructive view on HAL into the report. Halliburton Gears Up For Q2 Print; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts
• Neutral Sentiment: Halliburton is set to report earnings soon, and investors are focused on whether global oilfield demand and pricing can hold up despite disruption in the Middle East and broader sector volatility. Halliburton (NYSE:HAL) Earnings Put Global Oilfield Demand In Focus
• Negative Sentiment: Several reports suggest oilfield-service companies, including Halliburton, could face earnings pressure from war-related disruptions in the Middle East, with analysts warning of a potential hit to bottom-line results. Oil-Service Companies Set to Reveal War’s Impact on Earnings
• Negative Sentiment: Energy stocks were generally weaker in premarket trading, which can weigh on Halliburton sentiment even if company-specific news is positive. Sector Update: Energy Stocks Lean Lower Premarket Monday

About Halliburton

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.