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☆ Halliburton was a cash machine in its latest quarter — and we're making a price target change
  + stars: | 2023-07-19 | by ( Zev Fima | ) www.cnbc.com   time to read: +7 min
On the call, management reiterated that growing free cash flow is a top priority, and they expect over 50% of it to be "returned to shareholders this year." Speaking of cash returns, the company repurchased $248 million worth of shares during the quarter while returning another $144 million to shareholders via dividends. The team also guided for full-year free cash flow generation to be above what analysts were looking for — a material positive for the stock in the back half of the year. While maintaining our 2 rating , we're nudging up our price target to $42 per share from $40), reflecting about 18 times 2024 free cash flow per share estimates or about 11.5 times 2024 earnings estimates. With 2022 free cash flow coming in at $1.43 million, this forecast amounts to about $1.93 million at the midpoint, above Wall Street's $1.84 million expectation.
Persons: we're, Jim Cramer's, Jim Cramer, Jim, Luke Sharett Organizations: Halliburton, HAL, North, Management, Haliburton, Coterra Energy, Natural Resources, CNBC, Halliburton Co, Bloomberg, Getty Locations: Argentina, North America, North American, America, Port Fourchon , Louisiana, U.S
☆ Halliburton's upgrade on the back of its earnings beat highlights our investment case
  + stars: | 2022-10-26 | by ( Kevin Stankiewicz | ) www.cnbc.com   time to read: +5 min
That's something Wells Fargo also referenced, contending it should result in higher margins at Halliburton and other energy services firms. The turning tide for oil prices has helped support stock prices across the industry. And for the likes of Pioneer, Devon and Coterra, sizable cash returns through dividends and buybacks sweeten the investment case. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
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