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Halliburton (HAL) Gains But Lags Market: What You Should Know

Halliburton (HAL) closed the most recent trading day at $28.37, moving +0.64% from the previous trading session. The stock lagged the S&P 500's daily gain of 0.69%. Elsewhere, the Dow gained 0.64%, while the tech-heavy Nasdaq lost 0.2%.

Coming into today, shares of the provider of drilling services to oil and gas operators had lost 4.08% in the past month. In that same time, the Oils-Energy sector lost 0.21%, while the S&P 500 lost 9.94%.

Halliburton will be looking to display strength as it nears its next earnings release, which is expected to be October 25, 2022. On that day, Halliburton is projected to report earnings of $0.55 per share, which would represent year-over-year growth of 96.43%. Our most recent consensus estimate is calling for quarterly revenue of $5.32 billion, up 37.84% from the year-ago period.

HAL's full-year Zacks Consensus Estimates are calling for earnings of $2.01 per share and revenue of $20.24 billion. These results would represent year-over-year changes of +86.11% and +32.36%, respectively.

Any recent changes to analyst estimates for Halliburton should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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 0.06% lower. Halliburton is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, Halliburton is holding a Forward P/E ratio of 14.01. This valuation marks a discount compared to its industry's average Forward P/E of 17.85.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 14, which puts it in the top 6% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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