The company announced a net income of $109 million, or $0.12 per diluted share, with total revenue for Q2 of $5.1 billion compared to revenue of $4.3 billion in Q1. Furthermore, the reported operating income was $374 million in Q2 compared to an operating income of $511 million in Q1 of 2022. At the market opening, the HAL stock started to climb up off the back of the news, and it is currently trading up as much as 2.88% at the time of publication.
HAL chart and analysis
HAL has a performance of 26% year-to-date (YTD) thanks to energy prices that soared recently. Notably, benchmark oil prices are up about 37% YTD. For the past 30 days, the stock has been on the decline; in the last month, HAL has been trading in a wide range of $26.32 – $34.01, while the support zone is in the range of $19.17 to $27.86. Analysts currently rate the stock as a ‘strong buy,’ with the average price in the next 12 months reaching $45.19. That would set the average price target 56.64% higher than the current trading price of $28.85. Jeff Miller, Chairman, President and CEO of Halliburton, stated: Despite the strong performance in the second quarter, an earnings beat doesn’t guarantee that the stock will rise in the long term. It still remains to be seen how the company plans to deal with the pressures of inflation and energy price volatility over the next quarter and beyond. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
