Halliburton has beaten consensus earnings estimates in each of the three most recent quarters at an average positive surprise of roughly 13%, trades at a forward P/E of 13.1x with a PEG of 1.0, and converts earnings to free cash flow at 132% — but with only 4.3% headroom to the analyst target and a reward-to-risk ratio below the 1.5-to-1 threshold, the setup favors patience over new capital deployment at the current price.
Thesis pillars
- Superior Free Cash Flow Conversion→Stable
- Thin Upside Limits New Entry→Stable
- Earnings Execution Consistency→Stable
- +1 more pillar — see the Why tab for full reasoning
Halliburton Company (HAL) Stock Analysis
Catalyst-Driven edge
Energy · Oil & Gas Equipment & Services
Hold if already holding. Not a fresh buy at $33.00, but acceptable to hold if already in. Reason: Negative momentum.
Halliburton provides oilfield services and products through two segments — Completion and Production, and Drilling and Evaluation — to energy companies in more than 70 countries. Total revenue declined 3% in 2025 vs. 2024 with $2.9 billion in operating cash flows; 39% of... Read more
Hold if already holding. Not a fresh buy at $33.00, but acceptable to hold if already in. Reason: Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 5.8/10, moderate confidence.
Passes 6/7 gates (favorable risk/reward ratio, clean insider activity, no SEC red flags, earnings proximity 15d clear, semi cycle peak clear, materials cycle peak clear). Fails on weak momentum. Suitability: moderate.
About Halliburton Company
About Halliburton Company
Halliburton's two operating segments — Completion and Production (C&P) and Drilling and Evaluation (D&E) — finished 2025 with operating margins of 17% and 15%, respectively, after total revenue declined 3% year-over-year. The company generated $2.9 billion in cash flows from operations in 2025, with the United States contributing 39% of consolidated revenue and no other single country exceeding 10%. Over 46,000 employees across 146 nationalities operated in more than 70 countries, with approximately 22% subject to collective bargaining agreements.
Halliburton generates service revenue tied to the energy capital expenditure cycle — when E&P companies increase drilling and completion activity, demand for C&P (cementing, stimulation, artificial lift, completion tools) and D&E (directional drilling, logging-while-drilling, formation evaluation, Landmark software) rises correspondingly. Hydraulic fracturing constitutes a significant portion of C&P revenue and is subject to potential federal and state legislation that could impose additional restrictions. Capital expenditures were maintained at approximately 6% of revenue in 2025, matching the company's stated target, with 2026 focus directed at the Zeus IQ electric fracturing platform, iCruise rotary steerable systems, and LOGIX automation. Raw materials — including proppants (primarily sand), chemicals, metals, and electronic components — are described as normally readily available, though market conditions can trigger supply constraints. Long-term, fixed-price integrated project management contracts for national oil companies carry additional cost over-run risk if customers provide inaccurate information or operate in politically unstable jurisdictions.
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Regulatory risk for Halliburton concentrates in two distinct threads. Hydraulic fracturing — a significant portion of C&P revenue — faces potential federal, state, or local restrictions that could make it more difficult to complete oil and gas wells. Tariff policy adds cost uncertainty: in April 2025, the Trump Administration imposed a baseline 10% tariff on all imports plus additional reciprocal tariffs, many effective August 2025, with the U.S. Supreme Court reviewing the legality of certain measures as of early 2026. Existing sanctions against Venezuela, Russia, and other countries have already limited operations in those markets, and any expansion of trade restrictions may further constrain Halliburton's international revenue base.
See also: Energy · Oil & Gas Equipment & Services
From Halliburton Company's most recent 10-K filing, extracted June 10, 2026.
Recent developments
updated 2026-07-07Recent Developments — Halliburton Company
Latest news
- NEWS Concurrent Investment Advisors LLC Sells 93,708 Shares of Halliburton Company $HAL - MarketBeat — MarketBeat neutral
- NEWS Why Halliburton (HAL) Is Up 7.0% After Beating Q1 Earnings And Securing New Global Contracts - Yahoo Finance — Yahoo Finance positive
- NEWS Halliburton: Downgraded On Strong Stock Rally And Rising Uncertainty (NYSE:HAL) - Seeking Alpha — Seeking Alpha negative
- NEWS Piper Sandler reiterates Halliburton stock rating at Neutral - Investing.com — Investing.com neutral
- NEWS HAL Maintained by Piper Sandler -- Price Target Raised to $40 - GuruFocus — GuruFocus positive
Generated 2026-07-07T12:21:43Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- MEDIUMGeographicUnited States39%10-K Item 1: 'based on the location of services provided and products sold 39%, 40%, and 44%, respectively, of our consolidated revenue was from the United States (U.S.)'
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
1 floor-breaker
Momentum below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $33.00, but acceptable to hold if already in. Reason: Negative momentum. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Target $39.74 (+20.4%), stop $31.61 (−4.4%), A.R:R 3.1:1. Score 5.8/10, moderate confidence.
Take-profit target: $39.74 (+20.4% upside). Target $39.74 (+20.4%), stop $31.61 (−4.4%), A.R:R 3.1:1. Stop-loss: $31.61.
Negative momentum.
Halliburton Company trades at a P/E of 18.2 (forward 11.2). TrendMatrix value score: 8.0/10. Verdict: Hold.
33 analysts cover HAL with a consensus score of 3.9/5. Average price target: $44.
What does Halliburton Company do?Halliburton provides oilfield services and products through two segments — Completion and Production, and Drilling and...
Halliburton provides oilfield services and products through two segments — Completion and Production, and Drilling and Evaluation — to energy companies in more than 70 countries. Total revenue declined 3% in 2025 vs. 2024 with $2.9 billion in operating cash flows; 39% of consolidated revenue came from the United States, and the company employed over 46,000 people representing 146 nationalities.