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

Zacks Equity Research
·2-min read

Halliburton (HAL) closed the most recent trading day at $12.57, moving +0.8% from the previous trading session. This change outpaced the S&P 500's 0.45% gain on the day. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.52%.

Coming into today, shares of the provider of drilling services to oil and gas operators had lost 4.66% in the past month. In that same time, the Oils-Energy sector lost 2.44%, while the S&P 500 gained 2.08%.

Wall Street will be looking for positivity from HAL as it approaches its next earnings report date. This is expected to be July 20, 2020. On that day, HAL is projected to report earnings of -$0.12 per share, which would represent a year-over-year decline of 134.29%. Our most recent consensus estimate is calling for quarterly revenue of $3.39 billion, down 42.87% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.20 per share and revenue of $14.47 billion. These totals would mark changes of -116.13% and -35.41%, respectively, from last year.

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Investors should also note any recent changes to analyst estimates for HAL. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 13.93% higher. HAL currently has a Zacks Rank of #3 (Hold).

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 88, which puts it in the top 35% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.


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Zacks Investment Research