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.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy HAL?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
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: 37.540
Low
28.00
Averages
32.31
High
39.00
Current: 37.540
Low
28.00
Averages
32.31
High
39.00
About HAL
Halliburton Company is a provider of products and services to the energy industry. It 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, 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 that enable customers to model, measure, drill, and optimize their well construction activities. Its product service lines include Baroid, drill bits and services, Halliburton project management, landmark software and services, Sperry drilling, testing and subsea and wireline and perforating. It also provides advanced drilling automation solutions.
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.
US Stocks Surge as Oil Prices Plunge Amid Ceasefire Talks
- Market Rally: The S&P 500 rose by 1.18%, reaching a two-month high, while the Nasdaq 100 increased by 1.81%, reflecting strong investor optimism ahead of the earnings season, particularly as major banks prepare to report.
- Oil Price Plunge: WTI crude oil prices fell over 7% due to potential US-Iran ceasefire extensions, which will lower jet fuel costs for airlines, thereby boosting profitability and further supporting stock market gains.
- Inflation Data Impact: The March PPI report showed a 4.0% year-over-year increase, below the expected 4.6%, indicating easing inflation pressures that could influence the Fed's rate hike decisions, leading to more cautious market expectations regarding future monetary policy.
- Airline Stocks Surge: American Airlines Group saw its stock rise over 8% as a result of falling oil prices, demonstrating market confidence in the airline industry's recovery and reflecting investor optimism about the profitability potential from lower fuel costs.
See More
Halliburton Secures Multibillion-Dollar Contract in Argentina
- International Expansion: Halliburton's exclusive multibillion-dollar contract with YPF signifies a deeper penetration into Argentina's Vaca Muerta shale, expected to significantly enhance the company's market share in one of the largest unconventional oil and gas basins globally.
- Technological Innovation: The contract includes the planned international deployment of Halliburton's Zeus electric-powered fracturing technology, marking its first use outside the US, which could improve efficiency during the costly final phase of oilfield development, thereby reducing costs and enhancing productivity.
- Production Growth Potential: The Vaca Muerta formation currently produces about 600,000 barrels of oil per day, with a target to exceed 1 million barrels per day by 2030, indicating substantial growth potential for the region and ongoing demand for oilfield service providers.
- Capital Investment Needs: Wall Street analysts have indicated that the infrastructure buildout in Vaca Muerta will likely depend on foreign capital, which could support international shale development and drive future growth, attracting more investor interest.
See More
Middle East Conflict Threatens Global Economy
- Escalating Middle East Tensions: The war initiated by the U.S. and Israel against Iran has spread throughout the Middle East, threatening global economic stability, particularly impacting Lebanon and Gulf energy exporters.
- Strait of Hormuz Closure: Despite a fragile two-week ceasefire between the U.S. and Iran, traffic through the Strait of Hormuz remains largely restricted, affecting global energy supply and contributing to rising oil prices.
- Oil Price Fluctuations: As of 8:41 p.m. ET, West Texas Intermediate (WTI) rose by 0.69% to $98.55 per barrel, while Brent crude increased by 0.91% to $95.92 per barrel, reflecting market sensitivity to the Middle East situation.
- Japan's Oil Reserve Release Plan: Japan plans to release 20 days' worth of oil reserves starting in May, with current reserves sufficient for 230 days, aiming to alleviate energy supply pressures caused by the Middle East conflict.
See More
Analysis of OIH ETF's 52-Week Price Fluctuations
- Price Range Analysis: The OIH ETF's 52-week low is $191.21 per share, with a high of $423.85, and a recent trade at $404.79, indicating strong performance near its peak, which may attract more investor interest.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides valuable insights for investors, aiding in market trend assessment and potential buying opportunities.
- ETF Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing significant inflows or outflows, which can influence the price movements of the underlying components within the ETF.
See More
Occidental Petroleum Falls 7.8%, APA Corp Declines 9.8%, Diamondback Energy Drops 7.9%, ConocoPhillips Decreases 7%, Cotterra Energy Decreases 5.7%
Oil Company Performance: Occidental Petroleum's stock decreased by 7.8%, reflecting a downturn in the oil sector.
Other Major Declines: APA Corporation and Diamondback Energy saw declines of 9.8% and 7.9%, respectively, indicating broader challenges in the energy market.
ConocoPhillips and Coterra Energy: ConocoPhillips' shares fell by 7%, while Coterra Energy experienced a 5.7% drop, contributing to the overall negative trend in energy stocks.
Market Trends: The significant declines across these companies suggest a potential downturn in the energy market, impacting investor confidence.
See More
Exxon Mobil Falls 6.3%, Chevron Declines 5.5%
Exxon Mobil Performance: Exxon Mobil's stock has decreased by 6.3%.
Chevron Performance: Chevron's stock has also seen a decline, down by 5.5%.
See More
US Stocks Surge as Oil Prices Plunge Amid Ceasefire Talks
- Market Rally: The S&P 500 rose by 1.18%, reaching a two-month high, while the Nasdaq 100 increased by 1.81%, reflecting strong investor optimism ahead of the earnings season, particularly as major banks prepare to report.
- Oil Price Plunge: WTI crude oil prices fell over 7% due to potential US-Iran ceasefire extensions, which will lower jet fuel costs for airlines, thereby boosting profitability and further supporting stock market gains.
- Inflation Data Impact: The March PPI report showed a 4.0% year-over-year increase, below the expected 4.6%, indicating easing inflation pressures that could influence the Fed's rate hike decisions, leading to more cautious market expectations regarding future monetary policy.
- Airline Stocks Surge: American Airlines Group saw its stock rise over 8% as a result of falling oil prices, demonstrating market confidence in the airline industry's recovery and reflecting investor optimism about the profitability potential from lower fuel costs.
See More
Halliburton Secures Multibillion-Dollar Contract in Argentina
- International Expansion: Halliburton's exclusive multibillion-dollar contract with YPF signifies a deeper penetration into Argentina's Vaca Muerta shale, expected to significantly enhance the company's market share in one of the largest unconventional oil and gas basins globally.
- Technological Innovation: The contract includes the planned international deployment of Halliburton's Zeus electric-powered fracturing technology, marking its first use outside the US, which could improve efficiency during the costly final phase of oilfield development, thereby reducing costs and enhancing productivity.
- Production Growth Potential: The Vaca Muerta formation currently produces about 600,000 barrels of oil per day, with a target to exceed 1 million barrels per day by 2030, indicating substantial growth potential for the region and ongoing demand for oilfield service providers.
- Capital Investment Needs: Wall Street analysts have indicated that the infrastructure buildout in Vaca Muerta will likely depend on foreign capital, which could support international shale development and drive future growth, attracting more investor interest.
See More
Middle East Conflict Threatens Global Economy
- Escalating Middle East Tensions: The war initiated by the U.S. and Israel against Iran has spread throughout the Middle East, threatening global economic stability, particularly impacting Lebanon and Gulf energy exporters.
- Strait of Hormuz Closure: Despite a fragile two-week ceasefire between the U.S. and Iran, traffic through the Strait of Hormuz remains largely restricted, affecting global energy supply and contributing to rising oil prices.
- Oil Price Fluctuations: As of 8:41 p.m. ET, West Texas Intermediate (WTI) rose by 0.69% to $98.55 per barrel, while Brent crude increased by 0.91% to $95.92 per barrel, reflecting market sensitivity to the Middle East situation.
- Japan's Oil Reserve Release Plan: Japan plans to release 20 days' worth of oil reserves starting in May, with current reserves sufficient for 230 days, aiming to alleviate energy supply pressures caused by the Middle East conflict.
See More
Analysis of OIH ETF's 52-Week Price Fluctuations
- Price Range Analysis: The OIH ETF's 52-week low is $191.21 per share, with a high of $423.85, and a recent trade at $404.79, indicating strong performance near its peak, which may attract more investor interest.
- Technical Analysis Tool: Comparing the current share price to the 200-day moving average provides valuable insights for investors, aiding in market trend assessment and potential buying opportunities.
- ETF Trading Mechanism: ETFs trade similarly to stocks, where investors buy and sell 'units' that can be created or destroyed based on demand, impacting the ETF's liquidity and market performance.
- Inflows and Outflows Monitoring: Weekly monitoring of changes in shares outstanding helps identify ETFs experiencing significant inflows or outflows, which can influence the price movements of the underlying components within the ETF.
See More
Occidental Petroleum Falls 7.8%, APA Corp Declines 9.8%, Diamondback Energy Drops 7.9%, ConocoPhillips Decreases 7%, Cotterra Energy Decreases 5.7%
Oil Company Performance: Occidental Petroleum's stock decreased by 7.8%, reflecting a downturn in the oil sector.
Other Major Declines: APA Corporation and Diamondback Energy saw declines of 9.8% and 7.9%, respectively, indicating broader challenges in the energy market.
ConocoPhillips and Coterra Energy: ConocoPhillips' shares fell by 7%, while Coterra Energy experienced a 5.7% drop, contributing to the overall negative trend in energy stocks.
Market Trends: The significant declines across these companies suggest a potential downturn in the energy market, impacting investor confidence.
See More
Exxon Mobil Falls 6.3%, Chevron Declines 5.5%
Exxon Mobil Performance: Exxon Mobil's stock has decreased by 6.3%.
Chevron Performance: Chevron's stock has also seen a decline, down by 5.5%.
See More
