From Nasdaq: 2024-11-18 22:07:56

Halliburton stock (NYSE: HAL) has declined by 15% this year, with limited growth prospects in the near term. Revenues for FY 2024 are forecasted to be $23.1 billion, with an EPS of 3.07. The stock has been volatile, with annual returns of 22% in 2021, 74% in 2022, and -6% in 2023.

Factors impacting oil prices include tensions in Ukraine, China’s declining oil demand, and geopolitical unrest in the Middle East. While uncertain scenarios could lead to higher prices, rising output from the U.S. and non-OPEC countries is balancing the global market. OPEC+ is considering increasing oil production in December.

In Q3, Halliburton reported revenue of $5.7 billion, down 2% y-o-y, with net EPS of $0.65 falling short of forecasts. North America saw a 4% sequential decrease in revenue, while the international segment remained steady. The Middle East/Asia region recorded a 3% revenue increase.

Halliburton continues to prioritize returns over market share. Close to 40% of its fleets are e-fleets under multi-year contracts, with plans to expand Auto Frac deployment. HAL’s peers comparison provides insight into how the company’s stock performs against its competitors. 1. The stock market saw a significant drop today, with the Dow Jones Industrial Average falling by 500 points. This decline was attributed to renewed concerns about the ongoing trade war between the US and China, as well as weak economic data from Europe.

2. In other news, a new study has found that over 50% of Americans are not saving enough for retirement. The report highlights the need for individuals to start saving early and regularly in order to secure their financial future.

3. The United Nations has issued a warning about the accelerating pace of climate change, citing record high temperatures and extreme weather events around the world. The report urges countries to take immediate action to reduce greenhouse gas emissions and combat global warming.

4. A groundbreaking medical breakthrough has been announced, with scientists developing a new treatment for a rare genetic disorder that affects children. The therapy has shown promising results in clinical trials and offers hope for patients and their families.

5. In entertainment news, a highly anticipated film has broken box office records in its opening weekend, grossing over $100 million worldwide. The movie has received rave reviews from critics and has generated a significant buzz on social media.



Read more at Nasdaq: What’s Next For Halliburton? | Nasdaq