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Halliburton (HAL) Stock Sinks As Market Gains: What You Should Know

In the latest trading session, Halliburton (HAL) closed at $34.48, marking a -0.09% move from the previous day. This change lagged the S&P 500's daily gain of 0.27%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.88%.

Shares of the provider of drilling services to oil and gas operators have depreciated by 7.58% over the course of the past month, underperforming the Oils-Energy sector's loss of 3.25% and the S&P 500's gain of 2.85%.

The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on July 19, 2024. The company is forecasted to report an EPS of $0.80, showcasing a 3.9% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $5.95 billion, indicating a 2.7% upward movement from the same quarter last year.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.39 per share and revenue of $24.3 billion. These totals would mark changes of +8.31% and +5.59%, respectively, from last year.

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Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Halliburton. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 10.18 right now. For comparison, its industry has an average Forward P/E of 17.05, which means Halliburton is trading at a discount to the group.

Investors should also note that HAL has a PEG ratio of 0.88 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Field Services industry had an average PEG ratio of 0.89 as trading concluded yesterday.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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Halliburton Company (HAL) : Free Stock Analysis Report

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Zacks Investment Research