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Halliburton Co HAL

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Stock XNYS Rating as of
$38.73 +0.15 (0.38%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Halliburton Earnings: International Markets Continue to Drive Growth Amid Subdued US Market

Stephen Ellis, Samuel Siampaus

Narrow-moat Halliburton posted its 2024 first-quarter results in line with our expectations. Revenue was up 2% year over year and 1% sequentially, while firmwide operating margins declined very slightly to 17%. Continued strength in international drilling activity continues to shine amid a subdued North American market. As such, we’ve slightly cut our near-term sales outlook to reflect continued slowness in North America. We’ve reduced our fair value estimate to $39 from $40.

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Price vs Fair Value

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HAL is trading at a 3% discount.
Price
$38.72
Fair Value
$75.00
Uncertainty
High
1-Star Price
$42.00
5-Star Price
$96.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

High demand for next-generation frac spreads will allow Halliburton to maintain premium prices in North America for at least a decade.

Bears

As the North American shale market grows increasingly commoditized and consolidated, Halliburton will encounter difficulties in continuing to extract value from the industry over time.

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News

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Trading Information

Previous Close Price
$38.59
Day Range
$38.02–39.25
52-Week Range
$27.84–43.85
Bid/Ask
$38.72 / $38.73
Market Cap
$34.34 Bil
Volume/Avg
5.9 Mil / 6.5 Mil

Key Statistics

Price/Earnings (Normalized)
12.29
Price/Sales
1.51
Dividend Yield (Trailing)
1.68%
Dividend Yield (Forward)
1.76%
Total Yield
4.06%

Company Profile

Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others. It’s the largest pressure pumper in North America, and has been a leading innovator in hydraulic fracturing over the past two decades.
Sector
Energy
Industry
Oil & Gas Equipment & Services
Stock Style Box
Mid Core
Total Number of Employees
48,000
Website
https://www.halliburton.com

Competitors

Valuation

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Metric
HAL
SLB
WFRD
Price/Earnings (Normalized)
 12.2916.5719.35
Price/Book Value
 3.653.419.20
Price/Sales
 1.512.101.70
Price/Cash Flow
 8.7710.439.59
Price/Earnings
HAL
SLB
WFRD

Financial Strength

Metric
HAL
SLB
WFRD
Quick Ratio
 1.270.881.17
Current Ratio
 2.061.321.79
Interest Coverage
 6.6811.303.46
Quick Ratio
HAL
SLB
WFRD

Profitability

Metric
HAL
SLB
WFRD
Return on Assets (Normalized)
 11.77%9.54%13.08%
Return on Equity (Normalized)
 32.42%22.91%92.12%
Return on Invested Capital (Normalized)
 18.20%14.48%25.21%
Return on Assets
HAL
SLB
WFRD
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