Company Of The Day: Halliburton

by Trefis Team
-36.04%
Downside
28.74
Market
18.38
Trefis
HAL
Halliburton Company
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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?

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

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