Equities analysts predict that Halliburton Company (NYSE:HAL) will announce $5.84 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have made estimates for Halliburton’s earnings. The highest sales estimate is $6.03 billion and the lowest is $5.45 billion. Halliburton reported sales of $4.28 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 36.4%. The company is expected to report its next earnings results on Monday, April 23rd.
On average, analysts expect that Halliburton will report full-year sales of $5.84 billion for the current financial year, with estimates ranging from $22.94 billion to $26.00 billion. For the next financial year, analysts anticipate that the company will report sales of $27.47 billion per share, with estimates ranging from $25.18 billion to $29.70 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Halliburton.
Halliburton (NYSE:HAL) last announced its earnings results on Monday, January 22nd. The oilfield services company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.07. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.63 billion. Halliburton had a negative net margin of 2.25% and a positive return on equity of 11.95%. The business’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share.
Several research analysts have recently weighed in on the stock. Jefferies Group set a $65.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Barclays set a $66.00 target price on shares of Halliburton and gave the company a “buy” rating in a research note on Tuesday, January 23rd. Cowen restated a “hold” rating and issued a $60.00 target price on shares of Halliburton in a research note on Tuesday, January 23rd. B. Riley upped their target price on shares of Halliburton from $55.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. set a $60.00 price target on shares of Halliburton and gave the company a “buy” rating in a report on Tuesday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $59.73.
In related news, EVP Robb L. Voyles sold 39,287 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $55.00, for a total value of $2,160,785.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Lawrence J. Pope sold 9,100 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $41.35, for a total transaction of $376,285.00. Following the completion of the sale, the executive vice president now directly owns 180,646 shares in the company, valued at approximately $7,469,712.10. The disclosure for this sale can be found here. Insiders have sold 164,507 shares of company stock worth $8,380,429 over the last three months. 0.47% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in HAL. Sanders Capital LLC acquired a new stake in shares of Halliburton in the 4th quarter worth about $163,920,000. Beutel Goodman & Co Ltd. acquired a new stake in shares of Halliburton in the 4th quarter worth about $118,644,000. BlackRock Inc. increased its holdings in shares of Halliburton by 3.9% in the 4th quarter. BlackRock Inc. now owns 63,837,947 shares of the oilfield services company’s stock worth $3,119,761,000 after acquiring an additional 2,421,658 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Halliburton in the 4th quarter worth about $105,979,000. Finally, Mackenzie Financial Corp increased its holdings in shares of Halliburton by 409.5% in the 4th quarter. Mackenzie Financial Corp now owns 2,203,182 shares of the oilfield services company’s stock worth $107,670,000 after acquiring an additional 1,770,781 shares during the period. 80.61% of the stock is currently owned by institutional investors and hedge funds.
Halliburton (HAL) opened at $47.50 on Tuesday. The firm has a market cap of $41,558.22, a price-to-earnings ratio of 38.93, a PEG ratio of 2.27 and a beta of 0.97. The company has a quick ratio of 1.72, a current ratio of 2.22 and a debt-to-equity ratio of 1.25. Halliburton has a 52 week low of $38.18 and a 52 week high of $57.86.
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Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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