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Halliburton Company (NYSE: HAL): Stock Forecast For 2023 Sees A A Decline Of -16.68%

In the last trading session, 9.69 million shares of the Halliburton Company (NYSE:HAL) were traded, and its beta was 2.14. Most recently the company’s share price was $30.58, and it changed around $0.36 or 1.19% from the last close, which brings the market valuation of the company to $27.31B. HAL currently trades at a discount to its 52-week high of $43.99, offering almost -43.85% off that amount. The share price’s 52-week low was $23.30, which indicates that the current value has risen by an impressive 23.81% since then. We note from Halliburton Company’s average daily trading volume that its 10-day average is 9.41 million shares, with the 3-month average coming to 9.56 million.

Halliburton Company (NYSE:HAL) trade information

Instantly HAL has showed a green trend with a performance of 1.19% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 30.77 on Tuesday, 05/23/23 increased the stock’s daily price by 0.62%. The company’s shares are currently down -22.29% year-to-date, but still up 9.68% over the last five days. On the other hand, Halliburton Company (NYSE:HAL) is -11.29% up in the 30-day period. We can see from the shorts that 28.52 million shares have been sold at a short interest cover period of 3.01 day(s).

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Halliburton Company (HAL) estimates and forecasts

Halliburton Company share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -16.70 percent over the past six months and at a 45.58% annual growth rate that is well above the industry average of 38.00%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 53.10% in revenue this quarter, and will report an increase of 33.30% in the next quarter. The year-over-year growth rate is expected to be 17.60%, up from the previous year.

Consensus estimates provided by 18 financial analysts predict the company will bring in an average of $5.89 billion in revenue for the current quarter. 18 analysts expect Halliburton Company to make $6.04 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $5.07 billion and $5.34 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 16.00%. Forecasts for the next quarter put sales growth at 13.10%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 35.80%. Halliburton Company earnings are expected to increase by 6.00% in 2023, but the outlook is positive 33.10% per year for the next five years.

HAL Dividends

Halliburton Company’s next quarterly earnings report is expected to be released around July 17 and July 21. The annual dividend yield of the stock is 2.09 percent and its annual dividend per share was 0.64. It is important to note, however, that the 2.09% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Halliburton Company (NYSE:HAL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.38% of Halliburton Company shares, and 85.34% of them are in the hands of institutional investors. The stock currently has a share float of 85.66%. Halliburton Company stock is held by 1,319 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 11.12% of the shares, which is about 100.31 million shares worth $3.17 billion.

Blackrock Inc., with 8.95% or 80.77 million shares worth $2.56 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

American Balanced Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Mar 30, 2023. The former held 29.14 million shares worth $921.87 million, making up 3.23% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 26.49 million shares worth around $959.66 million, which represents about 2.93% of the total shares outstanding.

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