Halliburton Company
Built from real-time financials, refreshed daily. For a full Analyst Grade with bull/bear case, price targets, and qualitative risk analysis, generate a HAL research report →
Range $37 – $53
Price Chart
About the company
Halliburton Company (HAL) is a global supplier of products and services tailored for the energy sector. Its operations are structured into two primary divisions: Completion and Production, and Drilling and Evaluation. The Completion and Production segment focuses on enhancing well output through techniques like stimulation and sand control.
- CEO
- Jeffrey Allen Miller
- IPO
- 1972
- Employees
- 46,000
- HQ
- Houston, TX, US
AI snapshot
Six angles, distilled from the data.
HAL remains in a constructive multi-month recovery, holding above its 200-day moving average of 34.28 and 50-day average of 34.35. The stock is still well below its 52-week high of 43.41, so the setup is improving but not yet fully repaired.
Street sentiment stays constructive: consensus is Buy with a 42.78 target, implying room above the current trading range. Recent calls have leaned more cautious on price targets, with several trims in July, but Piper Sandler upgraded to Overweight and the broader rating mix still skews positive.
Halliburton has a solid recent beat streak, with 4 of the last 7 quarters topping estimates and the last four reported quarters all beating. Next-year EPS is modeled at 2.91 versus 1.93 TTM, so shareholders should watch whether margin discipline and revenue growth keep that path intact.
The pattern is clear net selling, led by multiple discretionary sales from the CEO, CFO, COO, and other senior officers and directors. The only non-sale items are small awards to Maurice S. Smith, which are routine compensation noise rather than a bullish signal.
Profitability is healthy for an oilfield services name, with ROE at 14.92%, operating margin at 12.79%, and net margin at 7.16%. Growth is modest but positive, with revenue up 3.7% year over year and earnings up 16.1%, while free cash flow of $4.18 billion and a 14.33% FCF yield support the case.
HAL’s scale and integrated completion/drilling franchise keep it competitive across the cycle, especially in production enhancement and drilling services. The stock trades at 14.78x earnings, a reasonable valuation for the Energy equipment and services group given its cash generation and mid-teens returns.
Similar companies
Peers in the same neighborhood.
- Market Cap
- $29.69B
- P/E
- 18.60
- Fwd P/E
- 15.16
- PEG
- -1.73
- P/S
- 1.33
- P/B
- 2.70
- EV/EBITDA
- 8.64
- Div Yield
- 1.91%
- Gross Margin
- 15.11%
- Op Margin
- 11.44%
- Net Margin
- 7.16%
- ROE
- 15.08%
- ROIC
- 9.72%
Latest fiscal year · YoY change
- Revenue
- $22.18B-3.3%
- Gross Profit
- $3.48B-19.0%
- Op Income
- $2.26B
- Net Income
- $1.28B-48.7%
- EPS
- $1.51-46.6%
- OCF Growth
- -24.3%
- FCF Growth
- -31.0%
- 52W High
- $43.59
- 52W Low
- $20.84
- 50D MA
- $34.35
- 200D MA
- $34.28
- Beta
- 0.75
- RSI (14)
- 61
- Avg Volume
- 11.86M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Halliburton posted solid Q2 growth with stronger international demand, improving North America activity, and management sounding confident about revenue and margin expansion ahead.· July 21, 2026
- Q2 revenue was $5.7 billion, with adjusted operating margin of 12%; adjusted EPS was $0.55 and reported EPS was $0.64.
- International revenue was $3.4 billion, up 6% year over year and described as the highest second-quarter revenue in more than a decade.
- North America revenue was $2.3 billion, flat year over year but up 7% sequentially, with management seeing a recovery in pricing and activity.
- Halliburton generated $824 million of operating cash flow and $668 million of free cash flow, and repurchased about $200 million of stock.
- Q3 guidance calls for C&P revenue flat to down 2% with 125 to 175 bps margin improvement, and D&E revenue down 3% to 5% with 25 to 75 bps margin improvement.
Halliburton reported Q2 2026 revenue of $5.7 billion, up 6% sequentially, with adjusted operating income of $683 million and adjusted operating margin of 12%. Reported net income per diluted share was $0.64, and adjusted net income per diluted share was $0.55. Cash flow from operations was $824 million, free cash flow was $668 million, and the company repurchased approximately $200 million of common stock. By segment, Completion and Production revenue was $3.2 billion, up 6% sequentially, with operating income of $474 million and a 15% margin; Drilling and Evaluation revenue was $2.5 billion, up 5% sequentially, with operating income of $338 million and a 13% margin. For Q3, management expects C&P revenue flat to down 2% with margins up 125 to 175 basis points, and D&E revenue down 3% to 5% with margins up 25 to 75 basis points. Full-year 2026 capital expenditures are expected to be about $1.1 billion.
Jeffrey Allen Miller struck an upbeat tone, saying the global outlook is strong and should support revenue growth and margin expansion. He emphasized energy security, long-cycle investment, and Halliburton’s differentiated technology as the basis for future growth. He also highlighted that the company is actively managing its fleet and capital toward the highest-return opportunities, including moving equipment internationally when that improves margins.
Eric Carre focused on the quarter’s financial delivery and the near-term guide. He cited Q2 reported EPS of $0.64, adjusted EPS of $0.55, revenue of $5.7 billion, adjusted operating income of $683 million, cash flow from operations of $824 million, free cash flow of $668 million, and about $200 million of buybacks. He also gave Q3 expectations for corporate expense of about $80 million, SAP expense of about $45 million, net interest expense up about $5 million, other net expense about $35 million, a tax rate of approximately 19%, and capex of about $1.1 billion for full-year 2026. On margins, he said Q3 improvement should be driven by mix, North America land frac, lift, Gulf of Mexico completion tools, and a Middle East recovery.
Analysts focused on North America pricing, Middle East disruption, offshore timing, and the profitability of new international awards. Management said North America is seeing white space fill, rig adds, and price increases, and that they are willing to move equipment abroad if returns are better. On the Middle East, they said activity remains highly fluid, guidance assumes steady conditions from here, and they have not built in either a recovery to pre-war levels or major additional disruption. They also said offshore inflection is more likely a 2027 event than Q4 2026, while international unconventionals and digital/software remain key growth engines.
The company said international demand is strong, with growth engines in offshore, unconventionals, intervention, and lift all contributing to new awards. Management believes these wins are accretive, supported by technology such as Zeus IQ, Logix, and Sikal, and expects international business outside the Middle East to grow low double digits this year. North America is also improving, with pricing and activity trends moving in the right direction and rig adds supporting better utilization.
The biggest near-term risk is the Middle East, where activity remains highly fluid and management described recent conditions as having step-backs after brief recovery. Q3 revenue is guided down sequentially in D&E and roughly flat to down in C&P, with some pressure from the chemical business sale, drilling fluids timing, mobilization costs, and the lingering impact of conflict-related disruption. Management also pushed the offshore inflection farther out, saying it looks more like a 2027 event than Q4 2026.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 99.3%
- Shares Outstanding
- 835.40M
- Float Shares
- 829.34M
of shares held by institutions
1,264 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Congressional trading
Senate and House stock disclosures for HAL, newest first.
| Member | Type | Traded | |
|---|---|---|---|
| Gilbert CisnerosHouse · CA31 | Sell | Jan 9, 26 | Filing → |
| Gilbert CisnerosHouse · CA31 | Sell | Dec 19, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Nov 12, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Sep 5, 25 | Filing → |
| Gilbert CisnerosHouse · CA31 | Buy | Aug 5, 25 | Filing → |
| Lisa McClainHouse · MI09 | Sell | Jun 24, 25 | Filing → |
| Lisa McClainHouse · MI09 | Buy | Jun 17, 25 | Filing → |
| Rob BresnahanHouse · PA08 | Sell | May 15, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | Apr 7, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | Mar 13, 25 | Filing → |
| Rob BresnahanHouse · PA08 | Buy | Feb 25, 25 | Filing → |
| Jefferson ShreveHouse · IN06 | Sell | Feb 24, 25 | Filing → |
| Jerry MoranSenate · KS | Sell | Dec 14, 23 | Filing → |
| Lois FrankelHouse · FL22 | Sell | Sep 8, 23 | Filing → |
Source: public STOCK Act disclosures. Filed weeks after the trade — a lagging signal, not a real-time one.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 101.03M | ▼ 3.55M |
| Blackrock, Inc. | 82.84M | ▼ 615.65K |
| State Street Corp | 56.87M | ▲ 2.46M |
| Vanguard Capital Management LLC | 51.87M | ▲ 139.85K |
| Geode Capital Management, LLC | 22.49M | ▼ 314.87K |
| Morgan Stanley | 16.66M | ▼ 601.99K |
| Aqr Capital Management LLC | 11.87M | ▲ 4.80M |
| Qube Research & Technologies Ltd | 11.13M | ▲ 11.13M |
| Goldman Sachs Group Inc | 10.62M | ▲ 1.53M |
| Citigroup Inc | 10.50M | ▲ 1.08M |
| Barrow Hanley Mewhinney & Strauss LLC | 10.19M | ▼ 666.82K |
| Dimensional Fund Advisors LP | 10.18M | ▲ 674.42K |
Held by 1,419 ETFs
Biggest fund positions in HAL by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Aug 18, 26 | Slocum Jeffrey Shannon | sell | 16,121 |
| Aug 18, 26 | Miller Jeffrey Allen | sell | 124,483 |
| Jun 30, 26 | Smith Maurice S | other | 1,079.638 |
| Jun 18, 26 | Carre Eric | sell | 24,778 |
| May 15, 26 | Beckwith Van H. | sell | 198,349 |
| May 5, 26 | Maxwell Michael Casey | sell | 13,566 |
| May 5, 26 | Maxwell Michael Casey | sell | 6,782 |
| Apr 30, 26 | Young Tobi M. | sell | 5,625 |
| Apr 30, 26 | Young Tobi M. | sell | 500 |
| Apr 30, 26 | McKeon Timothy | sell | 8,655 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our HAL coverage
Recent articles, reports, and earnings notes.

Halliburton (HAL): International Growth and Margin Recovery
Halliburton is a cyclical quality operator with improving quarterly momentum, supported by international growth, digital execution, and a moderate valuation. The stock looks attractive for medium-term investors if margin recovery continues.

Oilfield Services Stocks to Own in 2026: 7 Names with Real Setup
Seven oilfield services stocks ranked by investment quality — Baker Hughes, Weatherford, and NOV all place, with the top two picks revealed at the countdown's finish.

Halliburton Company (HAL) drops 6% on weak Q3 outlook
Halliburton Company (HAL) drops after its Q2 2026 earnings update, as investors focus on softer North America activity and weaker Q3 revenue guidance. The stock fell 6.0% on heavy volume even after a small EPS beat, signaling a market reset for near-term growth expectations.
Want a deeper read on HAL?
Generate a full analyst-grade report — bull/bear case, price targets, valuation depth, and a complete financial breakdown.
Halliburton (HAL) Up 6% Since Last Earnings Report: Can It Continue?
zacks.com · Aug 20
Halliburton Labs Announces Three New Portfolio Companies
gurufocus.com · Aug 20
Halliburton Labs Announces Three New Portfolio Companies
businesswire.com · Aug 20
82,837,333 Shares in Halliburton Company $HAL Bought by BlackRock Inc.
defenseworld.net · Aug 20
Halliburton Company $HAL Stock Position Lowered by Empowered Funds LLC
defenseworld.net · Aug 16
Australia's Beetaloo Energy partners with Halliburton for AI data centre-linked gas project
reuters.com · Jul 29
Halliburton (HAL) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
zacks.com · Jul 24
Bank of Nova Scotia Has $89.08 Million Holdings in Halliburton Company $HAL
defenseworld.net · Jul 24
Headlines from third-party outlets — TickerSpark isn't affiliated with these sources.
AI analysis · Last refreshed August 20, 2026 · Live quote · Not investment advice