Halliburton Company (HAL), headquartered in Houston, Texas, is a global leader in the energy industry, offering a wide range of products and services to support the exploration, development, and production of oil and natural gas. With a market cap of $24.67 billion, Halliburton plays a pivotal role in delivering innovative and sustainable energy solutions to clients worldwide.
Companies valued at $10 billion or more are classified as "large-cap" stocks. Halliburton exemplifies this status, underscoring its significant scale, stability, and influence in the energy sector. As a global leader in oilfield services, Halliburton’s large-cap standing reflects its extensive portfolio of innovative solutions for exploration, drilling, and production.
HAL shares are trading 36.4% below their 52-week high of $43.85, which they hit on Oct. 18, 2023. The stock has declined 17.5% over the past three months, underperforming the broader S&P 500 Index ($SPX), which has gained 3.5% over the same time frame.
In the longer term, HAL is down 22.9% on a YTD basis, and the shares have declined 33.5% over the past 52 weeks. In comparison, the SPX has gained 18% in 2024 and rallied 25.9% over the past year.
To confirm its bearish trend, HAL has been trading below its 50-day moving average since late July and the 200-day moving average since late April.
On Jul. 19, HAL reported its Q2 results. Its adjusted EPS of $0.80 matched the consensus estimate. The company’s revenue came in at $5.83 billion, missing the Wall Street estimates of $5.95 billion. Shares of HAL closed up 5.6% on the day the results were released.
Highlighting the contrast in performance, HAL's competitor, Schlumberger Limited (SLB), has underperformed both the stock and the broader index. SLB has declined 23.2% on a YTD basis.
Despite the stock's weak price performance, analysts are optimistic about HAL's prospects. The stock has a consensus rating of "Strong Buy" from 21 analysts in coverage. The mean price target is $43.62, which suggests a premium of 56.5% to its current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
