Halliburton Co. (NYSE: HAL) Stock: Will It Keep Climbing Higher?

In the last trading session, 5.01 million shares of the Halliburton Co. (NYSE:HAL) were traded, and its beta was 2.01. Most recently the company’s share price was $39.93, and it changed around $0.51 or 1.29% from the last close, which brings the market valuation of the company to $35.54B. HAL currently trades at a discount to its 52-week high of $43.85, offering almost -9.82% off that amount. The share price’s 52-week low was $27.84, which indicates that the current value has risen by an impressive 30.28% since then. We note from Halliburton Co.’s average daily trading volume that its 10-day average is 6.18 million shares, with the 3-month average coming to 7.45 million.

Halliburton Co. stock received a consensus recommendation rating of Buy, based on a mean score of 1.33. If we narrow it down even further, the data shows that 1 out of 38 analysts rate the stock as a Sell; another 11 rate it as Overweight. Among the rest, 3 recommended HAL as a Hold, whereas 23 deemed it a Buy, and 0 rated it as Underweight. Halliburton Co. is expected to report earnings per share of $0.74 for the current quarter.

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Halliburton Co. (NYSE:HAL) trade information

Instantly HAL has showed a green trend with a performance of 1.29% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 10.46% year-to-date, but still up 4.01% over the last five days. On the other hand, Halliburton Co. (NYSE:HAL) is 13.86% up in the 30-day period. We can see from the shorts that 23.07 million shares have been sold at a short interest cover period of 3.1 day(s).

The consensus price target as assigned by Wall Street analysts is $37.16, which translates to bulls needing to decrease their stock price by -7.45% from its current value. Analyst projections state that HAL is forecast to be at a low of $23 and a high of $50.

Halliburton Co. (HAL) estimates and forecasts

Halliburton Co. 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 -4.45 percent over the past six months and at a 9.58% annual growth rate that is well above the industry average of 6.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 2.80% in revenue this quarter, and will report an increase of 6.50% in the next quarter. The year-over-year growth rate is expected to be 5.50%, up from the previous year.

Consensus estimates provided by 19 financial analysts predict the company will bring in an average of $5.67 billion in revenue for the current quarter. 19 analysts expect Halliburton Co. to make $5.96 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $5.68 billion and $5.8 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -0.10%. Forecasts for the next quarter put sales growth at 2.80%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 9.14%. Halliburton Co. earnings are expected to increase by 8.55% in 2024, but the outlook is positive 14.60% per year for the next five years.

HAL Dividends

Halliburton Co.’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 1.63 percent and its annual dividend per share was 0.65. It is important to note, however, that the 1.63% 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 Co. (NYSE:HAL)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.38% of Halliburton Co. shares, and 86.86% of them are in the hands of institutional investors. The stock currently has a share float of 87.19%. Halliburton Co. stock is held by 1,362 institutions, with Capital World Investors being the largest institutional investor. By Jun 29, 2023, it held 12.73% of the shares, which is about 114.41 million shares worth $3.77 billion.

Vanguard Group Inc, with 11.04% or 99.16 million shares worth $3.27 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

American Balanced Fund and Washington Mutual Investors Fund were the top two Mutual Funds as of Sep 29, 2023. The former held 39.41 million shares worth $1.6 billion, making up 4.39% of all outstanding shares. On the other hand, Washington Mutual Investors Fund held roughly 32.97 million shares worth around $1.34 billion, which represents about 3.67% of the total shares outstanding.