Halliburton: This stock is down almost 75% over the past 2 yrs and is the newest Cash Pile selection, it is 1 of the world’s largest providers of products and services to the Oil & Gas energy industry.
The Haliburton (NYSE:HAL) serves the upstream oil and gas industry throughout the lifecycle of the reservoir from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production through the life of the field.
Halliburton is the 2nd-largest provider of Crude Oil services and the #1 player in pressure pumping services worldwide.
HAL’s business always has been dependent on commodity prices. While the benchmark price of Crude Oil has recovered nicely from the March lows contrarians see a path to higher Crude Oil prices could make some huge money in this stock.
1 prominent industry analysts noted this: We are adding Halliburton to the Conviction List given: 1) our view of greater earnings upside Vs peer group in an oil price recovery, 2) significant structural cost-cutting in 2020 ($1-B), which will create even greater operating leverage and thus earnings power out of the downturn, 3) strong international exposure (60% of revenues in 2021), which will drive long-term growth, and 4) robust free-cash-flow of $1-B in both Ys 2020 estimated and 2021 estimated (free-cash-flow yield of 8%).
HAL broke out on 20 July at 13.41, has yet to confirm, but belongs on the Buy list based on the 8% yield. Shareholders receive a 1.08% dividend.
Strong Support is at 14.01 and the resistance is light through 19.95 a share.
All of our Key indicators are Very Bullish across the board into the Long Term
The Wall Street consensus target is only 15.46 Halliburton stock closed Friday at 16.63 Vs its 52 wk trading range at 4.25 – 25.47.
My long term target is 56.57, let’s see…
Have a healthy week, Keep the Faith!