Company Of The Day: Halliburton
What?
The total count of active drilling rigs in the U.S. rose by 9 over the last week to 521 units, per data from Baker Hughes. Drilling rigs targeting oil rose by 10 units to 421, the highest levels since April 2020.
Why?
Relevant Articles
- Halliburton Stock Likely To See Higher Levels Post Q1 Results
- What to Watch For In Halliburton’s Stock Post Q4?
- Halliburton Stock Up 14% Over Last Ten Days. What’s Next?
- Halliburton Stock Up 14% Over Last Ten Days, Can It Keep Up?
- Can Halliburton’s Stock Rebound After A 30% Fall Over Last Month?
- Are Investors Too Optimistic On Halliburton Stock?
The global oil supply has been tightening and crude oil prices are near two-month highs. This is likely driving higher exploration and production activity.
So What?
The stronger oilfield activity should bode well for Halliburton (NYSE:HAL), which is one of the largest oilfield services players in the U.S. Halliburton stock is up about 11% year-to-date and by almost 70% over the last 12 months.
See Our Complete Analysis For Halliburton
Invest with Trefis Market-Beating Portfolios
See all Trefis Price Estimates