Are Wall Street Analysts Bullish on Halliburton Stock?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2024
0mins
Source: NASDAQ.COM
Company Overview and Market Performance: Halliburton Company, a major player in the energy sector with a market cap of $26.5 billion, has seen its shares decline by 21.2% over the past year, significantly underperforming the S&P 500 Index which rose nearly 35.5%. Analysts predict a slight decrease in earnings per share for the current fiscal year.
Analyst Ratings and Price Targets: Despite recent challenges, Halliburton holds a consensus rating of "Strong Buy" among analysts, with a mean price target of $39.82 indicating a potential upside. However, Barclays analyst J. David Anderson has lowered the price target from $47 to $43, citing concerns about future growth amid industry consolidation.
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Analyst Views on HAL
Wall Street analysts forecast HAL stock price to fall
18 Analyst Rating
12 Buy
6 Hold
0 Sell
Moderate Buy
Current: 39.760
Low
28.00
Averages
32.31
High
39.00
Current: 39.760
Low
28.00
Averages
32.31
High
39.00
About HAL
Halliburton Company is a provider of products and services to the energy industry. The Company operates through two segments: Completion and Production and the Drilling and Evaluation. The Completion and Production segment delivers cementing, stimulation, specialty chemicals, intervention, pressure control, artificial lift, and completion products and services. The segment consists of artificial lift, cementing, completion tools, multi-chem, pipeline and process services, production enhancement, and production solutions. The Drilling and Evaluation segment provides field and reservoir modeling, drilling, fluids, evaluation and precise wellbore placement solutions. The segment consists of Baroid, drill bits and services, Halliburton project management, landmark software and services, sperry drilling, testing and subsea and wireline and perforating. It develops cloud‑native applications for subsurface, drilling, well, and logistics data.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Negotiation Breakdown: A government-appointed mediator confirmed that negotiations between Safe and the industry were unsuccessful, leading to the strike and highlighting rising tensions within the labor landscape.
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- Union Dynamics: The larger Styrke union has successfully reached an agreement with the industry and will not engage in strike action, reflecting the varying outcomes of negotiations among different labor unions within the sector.
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- Market Positioning Impact: Market capitalization not only affects a company's ranking among peers but also directly influences which mutual funds and ETFs are willing to hold the stock, particularly as large funds tend to favor companies with market caps over $10 billion.
- Stock Price Fluctuations: At Thursday's close, Paychex's stock fell approximately 1.9%, while Halliburton's rose about 0.1%, reflecting differing market sentiments and expectations for the two companies.
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- Pre-Call Press Release: The company will issue a press release regarding its Q2 financial results prior to the call, enhancing investor expectations and focus on performance, demonstrating Halliburton's adherence to regulatory disclosure standards.
- Live Webcast and Replay: Investors can listen to the call live via Halliburton's website, with a recorded version available for seven days post-call, ensuring accessibility of key information for those unable to attend live, thereby improving information reach.
- Company Background: Founded in 1919, Halliburton is a leading provider of products and services to the energy industry, committed to maximizing customer value throughout the asset lifecycle and advancing a sustainable energy future, underscoring its significant role in the sector.
See More
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- Inflation Data Impact: The US May Consumer Price Index rose by 4.2% year-on-year, meeting expectations and marking the fastest increase in three years, which, while easing inflation concerns, still affects market sentiment and leads to more cautious expectations regarding future interest rate policies.
- Pressure on Airlines and Transport: Trucking companies are under pressure as Amazon expanded its LTL freight service, with Old Dominion Freight Line and FedEx Freight down over 4% and 3% respectively, indicating growing concerns about increased competition in the transportation sector.
- Energy Stocks Rise: WTI crude oil prices increased by over 1%, boosting energy producers like Devon Energy by more than 5%, suggesting that despite overall market weakness, the energy sector's profit outlook remains optimistic amid geopolitical tensions.
See More
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- Energy Stocks Strength: WTI crude oil prices increased by more than 1%, boosting energy producers like Devon Energy, which rose over 4%, indicating that the energy sector retains resilience amid geopolitical tensions.
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- Energy Price Impact: WTI crude oil prices plunged by 3% to a seven-week low, leading to widespread declines in energy producers' stocks, which exacerbated the overall market weakness and highlighted the direct impact of oil price fluctuations on related sectors.
- Real Estate Market Recovery: US existing home sales rose to 4.17 million in April, a five-month high, boosting the stocks of builders and suppliers, indicating that a recovery in the real estate market could provide positive signals for the economy.
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