Equities analysts forecast that Halliburton (NYSE:HAL) will report $5.93 billion in sales for the current quarter, according to Zacks. Ten analysts have provided estimates for Halliburton’s earnings, with estimates ranging from $5.78 billion to $6.12 billion. Halliburton posted sales of $5.94 billion during the same quarter last year, which suggests a negative year over year growth rate of 0.2%. The firm is expected to announce its next quarterly earnings results before the market opens on Tuesday, January 22nd.
On average, analysts expect that Halliburton will report full year sales of $23.98 billion for the current year, with estimates ranging from $23.83 billion to $24.04 billion. For the next financial year, analysts forecast that the firm will post sales of $25.84 billion, with estimates ranging from $24.51 billion to $27.61 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Halliburton.
Halliburton (NYSE:HAL) last posted its quarterly earnings data on Monday, October 22nd. The oilfield services company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. Halliburton had a net margin of 0.70% and a return on equity of 20.42%. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.10 billion. During the same period in the prior year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 13.4% on a year-over-year basis.
A number of analysts have recently commented on HAL shares. Stifel Nicolaus started coverage on shares of Halliburton in a report on Monday, September 10th. They set a “buy” rating and a $45.00 target price on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Halliburton in a research report on Friday, September 7th. Credit Suisse Group set a $51.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Thursday, September 6th. JPMorgan Chase & Co. set a $60.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Monday, September 17th. Finally, Barclays set a $52.00 price target on Halliburton and gave the stock a “buy” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. Halliburton presently has a consensus rating of “Buy” and a consensus target price of $51.24.
Shares of HAL stock traded down $0.11 during mid-day trading on Wednesday, reaching $29.68. 14,264,689 shares of the company’s stock traded hands, compared to its average volume of 10,989,375. Halliburton has a 12 month low of $29.24 and a 12 month high of $57.86. The stock has a market cap of $26.10 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 0.87 and a beta of 1.06. The company has a current ratio of 2.31, a quick ratio of 1.73 and a debt-to-equity ratio of 1.16.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 27th. Investors of record on Thursday, December 6th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date is Wednesday, December 5th. Halliburton’s payout ratio is currently 59.02%.
In related news, VP Anne L. Beaty sold 7,200 shares of Halliburton stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $32.33, for a total value of $232,776.00. Following the transaction, the vice president now owns 62,196 shares in the company, valued at $2,010,796.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James S. Brown sold 15,989 shares of Halliburton stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $40.53, for a total value of $648,034.17. The disclosure for this sale can be found here. Insiders sold 24,399 shares of company stock worth $924,648 in the last quarter. 0.54% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of HAL. Clearbridge Investments LLC boosted its stake in Halliburton by 6.5% in the third quarter. Clearbridge Investments LLC now owns 3,714,689 shares of the oilfield services company’s stock valued at $150,556,000 after acquiring an additional 226,387 shares during the period. Belpointe Asset Management LLC lifted its position in Halliburton by 64.2% in the third quarter. Belpointe Asset Management LLC now owns 11,568 shares of the oilfield services company’s stock worth $469,000 after purchasing an additional 4,524 shares during the period. Vanguard Group Inc. lifted its position in Halliburton by 1.3% in the third quarter. Vanguard Group Inc. now owns 64,076,786 shares of the oilfield services company’s stock worth $2,597,032,000 after purchasing an additional 791,500 shares during the period. Dodge & Cox lifted its position in Halliburton by 73,106.2% in the third quarter. Dodge & Cox now owns 6,734,967 shares of the oilfield services company’s stock worth $272,968,000 after purchasing an additional 6,725,767 shares during the period. Finally, Legal & General Group Plc lifted its position in Halliburton by 3.4% in the third quarter. Legal & General Group Plc now owns 3,978,189 shares of the oilfield services company’s stock worth $161,236,000 after purchasing an additional 130,922 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.
Halliburton Company Profile
Halliburton Company provides a range of services and products to oil and natural gas companies worldwide. The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as bonding the well, well casing, and casing equipment.
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