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Halliburton (NYSE:HAL) reported third-quarter 2026 revenue of $5.7 billion and adjusted operating income of $731 million, producing an adjusted operating margin of 12.8%. Adjusted net income was $0.60 per diluted share.

Chairman, President and CEO Jeff Miller said revenue exceeded the company’s expectations and that management took “important steps” toward improving margins. The company repurchased approximately $250 million of common stock during the quarter.

International revenue reached $3.5 billion, up 3% sequentially and 9% year over year, while North America revenue was $2.2 billion, down 5% sequentially and 9% from a year earlier. Miller said Halliburton expects multiyear demand growth for oilfield services as the industry works to restore production, rebuild inventories and strengthen energy security. International strength led by D&E Executive Vice President and COO Shannon Slocum said international results benefited from strong performance in the company’s Drilling and Evaluation, or D&E, division. D&E exceeded the company’s expectations for revenue and improved operating income margin by 150 basis points sequentially.

In the Middle East, Halliburton reported sequential improvement despite inflationary pressures. Slocum said fourth-quarter Middle East revenue is expected to rise both sequentially and year over year, supported by a full quarter of Jafurah completions activity and expanded share across integrated and discrete services in Saudi Arabia.

Outside the Middle East, the company expects 2026 year-over-year growth of about 12% across its international regions. Slocum highlighted work awarded by BP for the Bumerangue appraisal program in Brazil and by Eni for the Cronos ultra-deepwater gas development in Cyprus, citing Halliburton’s drilling, automation, formation evaluation, fluids, cementing and completions technologies.

The company also said it remains on track toward its target of adding $3 billion in annual revenue by 2028 from growth engines including production services, drilling, unconventionals and artificial lift. Planned developments include the expected year-end startup of a North Sea stimulation vessel and the fourth-quarter deployment of Halliburton’s first ZEUS fleet in Argentina.

In artificial lift, Halliburton secured a multiyear electric submersible pump rental contract with a major operator in Argentina, its largest award of the quarter. It also made installations in the United Arab Emirates and offshore Congo and received its first offshore ESP order in Brazil.

Slocum said Halliburton is open for business in Venezuela, where it has management and facilities in place, moved equipment into the country and generated third-quarter revenue across multiple product lines. He said the company expects solid growth over time, though noted it would not occur overnight.

North America frac remained below expectations North America results were affected by a slower-than-anticipated recovery in the hydraulic fracturing market. Slocum said Halliburton moved several frac crews to new customers at better pricing during the quarter, but the moves created more downtime than expected and weighed on regional performance and the Completion and Production, or C&P, division.

Management said the company operates its North American hydraulic fracturing business for returns rather than market share. While Halliburton’s 2027 framework assumes flat North American activity, Miller characterized any recovery in North American frac as upside to the company’s outlook.

Other North American land businesses showed growth. Sperry Drilling services, drill bits and drilling fluids revenue rose 23% year over year, according to Slocum. He attributed the growth to longer laterals, increasingly complex wells and demand for rotary steerable drilling, including the company’s iCruise system. Drill-bit revenue per rig was up double digits from the first quarter, he said.

Fourth-quarter and 2027 outlook Chief Financial Officer Eric Carre said fourth-quarter company revenue is expected to remain roughly flat with the third quarter at approximately $5.7 billion, while operating income margin is expected to improve by about 70 basis points. Halliburton expects fourth-quarter earnings per share of approximately $0.62 to $0.64.

C&P revenue is expected to increase 3% to 5% in the fourth quarter, with operating margin improving 75 to 125 basis points. D&E revenue is expected to decline 3% to 5% after a strong third quarter, while operating margin is expected to be flat to up 50 basis points. Full-year 2026 capital expenditures are expected to be about $1.1 billion, including $266 million in the third quarter. For 2027, Halliburton issued an early outlook calling for mid-single-digit revenue growth and operating income margin of about 15%, representing expansion of roughly 200 basis points. The framework assumes North America remains flat year over year, Middle East activity stays in line with the second half of 2026, and other regions continue to grow.

Carre said about half of the projected margin improvement is expected to come from cost savings, including structural and operational cost reductions and the wind-down of spending associated with the company’s SAP S/4 implementation. Halliburton said it is now live on S/4 globally, completing what Carre described as a major business transformation.

The company expects approximately $100 million to $150 million in cost-reduction benefits in 2027 and $120 million to $150 million of savings from the declining S/4 program spend. The remainder of projected margin expansion is expected to come from incremental margins on revenue growth.

Carre said Halliburton expects about $1 billion in fourth-quarter cash flow from operations and approximately $1.6 billion in full-year free cash flow. He added that the company expects free-cash-flow margins to improve in 2027 as profits increase.

About Halliburton (NYSE:HAL) Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.

Halliburton Co. (NYSE:HAL) on Tuesday reported better-than-expected third-quarter earnings and revenue.

Halliburton Gains Traction: Multiyear Upcycle AheadHalliburton NYSE: HAL reported third-quarter 2026 revenue of $5.7 billion and adjusted operating income of $731 million, producing an adjusted operating margin of 12.8%. Adjusted net income was $0.60 per diluted share.

Chairman, President and CEO Jeff Miller said revenue exceeded the company’s expectations and that management took “important steps” toward improving margins. The company repurchased approximately $250 million of common stock during the quarter.

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Venezuela's Oil Revival Is Gaining Momentum—3 Energy Stocks Positioned to BenefitInternational revenue reached $3.5 billion, up 3% sequentially and 9% year over year, while North America revenue was $2.2 billion, down 5% sequentially and 9% from a year earlier. Miller said Halliburton expects multiyear demand growth for oilfield services as the industry works to restore production, rebuild inventories and strengthen energy security.

International strength led by D&E
Executive Vice President and COO Shannon Slocum said international results benefited from strong performance in the company’s Drilling and Evaluation, or D&E, division. D&E exceeded the company’s expectations for revenue and improved operating income margin by 150 basis points sequentially.

Striking Oil: How the U.S. Play for Venezuela Fuels SupermajorsIn the Middle East, Halliburton reported sequential improvement despite inflationary pressures. Slocum said fourth-quarter Middle East revenue is expected to rise both sequentially and year over year, supported by a full quarter of Jafurah completions activity and expanded share across integrated and discrete services in Saudi Arabia.

Outside the Middle East, the company expects 2026 year-over-year growth of about 12% across its international regions. Slocum highlighted work awarded by BP for the Bumerangue appraisal program in Brazil and by Eni for the Cronos ultra-deepwater gas development in Cyprus, citing Halliburton’s drilling, automation, formation evaluation, fluids, cementing and completions technologies.

The company also said it remains on track toward its target of adding $3 billion in annual revenue by 2028 from growth engines including production services, drilling, unconventionals and artificial lift. Planned developments include the expected year-end startup of a North Sea stimulation vessel and the fourth-quarter deployment of Halliburton’s first ZEUS fleet in Argentina.

In artificial lift, Halliburton secured a multiyear electric submersible pump rental contract with a major operator in Argentina, its largest award of the quarter. It also made installations in the United Arab Emirates and offshore Congo and received its first offshore ESP order in Brazil.

Slocum said Halliburton is open for business in Venezuela, where it has management and facilities in place, moved equipment into the country and generated third-quarter revenue across multiple product lines. He said the company expects solid growth over time, though noted it would not occur overnight.

North America frac remained below expectations
North America results were affected by a slower-than-anticipated recovery in the hydraulic fracturing market. Slocum said Halliburton moved several frac crews to new customers at better pricing during the quarter, but the moves created more downtime than expected and weighed on regional performance and the Completion and Production, or C&P, division.

Management said the company operates its North American hydraulic fracturing business for returns rather than market share. While Halliburton’s 2027 framework assumes flat North American activity, Miller characterized any recovery in North American frac as upside to the company’s outlook.

Other North American land businesses showed growth. Sperry Drilling services, drill bits and drilling fluids revenue rose 23% year over year, according to Slocum. He attributed the growth to longer laterals, increasingly complex wells and demand for rotary steerable drilling, including the company’s iCruise system. Drill-bit revenue per rig was up double digits from the first quarter, he said.

Fourth-quarter and 2027 outlook
Chief Financial Officer Eric Carre said fourth-quarter company revenue is expected to remain roughly flat with the third quarter at approximately $5.7 billion, while operating income margin is expected to improve by about 70 basis points. Halliburton expects fourth-quarter earnings per share of approximately $0.62 to $0.64.

C&P revenue is expected to increase 3% to 5% in the fourth quarter, with operating margin improving 75 to 125 basis points.
D&E revenue is expected to decline 3% to 5% after a strong third quarter, while operating margin is expected to be flat to up 50 basis points.
Full-year 2026 capital expenditures are expected to be about $1.1 billion, including $266 million in the third quarter.

For 2027, Halliburton issued an early outlook calling for mid-single-digit revenue growth and operating income margin of about 15%, representing expansion of roughly 200 basis points. The framework assumes North America remains flat year over year, Middle East activity stays in line with the second half of 2026, and other regions continue to grow.

Carre said about half of the projected margin improvement is expected to come from cost savings, including structural and operational cost reductions and the wind-down of spending associated with the company’s SAP S/4 implementation. Halliburton said it is now live on S/4 globally, completing what Carre described as a major business transformation.

The company expects approximately $100 million to $150 million in cost-reduction benefits in 2027 and $120 million to $150 million of savings from the declining S/4 program spend. The remainder of projected margin expansion is expected to come from incremental margins on revenue growth.

Carre said Halliburton expects about $1 billion in fourth-quarter cash flow from operations and approximately $1.6 billion in full-year free cash flow. He added that the company expects free-cash-flow margins to improve in 2027 as profits increase.

About Halliburton (NYSE:HAL)Halliburton Company NYSE: HAL is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

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Key Takeaways HAL's Q3 adjusted EPS rose to 60 cents, while revenues climbed 1.8% to $5.7 billion, beating estimates.International revenues reached $3.5 billion, offsetting an 8.6% North American decline.HAL targets mid-single-digit revenue growth and 15% operating margins in 2027, backed by efficiency gains.
Halliburton Company (HAL - Free Report) reported third-quarter 2026 adjusted earnings of 60 cents per share, surpassing both the Zacks Consensus Estimate and the year-ago adjusted earnings of 58 cents. The improvement was supported by stronger drilling activity and international operations.

Revenues of $5.7 billion rose 1.8% year over year and surpassed the Zacks Consensus Estimate by 2%. The top-line improvement was driven by Drilling and Evaluation growth, while lower North American stimulation activity remained a headwind.

HAL's Drilling Unit Gains, Completion Revenues FallThe Completion and Production segment generated revenues of $3.1 billion, down 4.2% from $3.2 billion in the year-ago quarter. The decline reflected reduced stimulation activity in the Western Hemisphere, partially offset by increased activity across multiple service lines in the Middle East.

The segment recorded operating income of $457 million, declining 11.1% from $514 million a year earlier. Its operating margin contracted to 14.8% from 15.9%.

The Drilling and Evaluation segment reported revenues of $2.6 billion, increasing 10% from $2.4 billion in the prior-year period. Operating income climbed 12.4% to $391 million from $348 million. Improved activity in the Middle East and Latin America, along with increased drilling-related services in the Western Hemisphere, supported performance.

Halliburton's International Revenues Show StrengthNorth American revenues declined 8.6% year over year to $2.2 billion from $2.4 billion. The region also witnessed a 5.1% sequential decline, primarily due to reduced pressure pumping services in U.S. land operations.

International revenues increased to $3.5 billion from $3.2 billion in the year-ago period. Latin American revenues climbed 12.7% to $1.1 billion, while Europe/Africa/CIS revenues surged 22.7% to just over $1 billion.

Middle East/Asia revenues edged down 0.5% year over year to $1.4 billion but registered 8.2% sequential growth, benefiting from increased activity in Saudi Arabia and Kuwait. Beyond quarterly activity trends, Halliburton's contract awards from BP plc (BP - Free Report) offshore Brazil and Eni S.p.A. (E - Free Report) in the Eastern Mediterranean highlight its continued participation in international deepwater developments.

HAL's Adjusted Margins Improve SequentiallyHalliburton recorded operating income of $624 million compared with $356 million in the year-ago quarter. The reported operating margin expanded to 10.9% from 6.4%.

However, adjusted operating income declined to $731 million from $748 million a year earlier. The adjusted operating margin contracted to 12.8% from 13.4% but improved from 12% in the preceding quarter.

HAL recognized $107 million in pretax impairments and other charges, including severance costs associated with global workforce rationalization and inventory-related write-downs, partially offset by investment-related gains.

Adjusted EBITDA totaled $1 billion, slightly below the prior-year figure of $1.01 billion. The adjusted EBITDA margin declined to 17.5% from 18%.

Halliburton's Cash Flow and Balance SheetHalliburton incurred capital expenditures of $266 million in the third quarter compared with $261 million a year earlier. Depreciation, depletion and amortization expenses totaled $296 million, up from $285 million.

As of Sept. 30, 2026, this Zacks Rank #4 (Sell) company held $1.84 billion in cash and equivalents and $7.1 billion in long-term debt. Total shareholders' equity stood at $11.16 billion.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Cash flow from operating activities totaled $368 million, generating free cash flow of $156 million. HAL repurchased approximately $250 million of common stock and paid dividends of 17 cents per share during the quarter.

HAL's Management Outlook and Growth ProspectsHalliburton expects mid-single-digit revenue growth in 2027, with operating margins reaching approximately 15%, representing an improvement of about 200 basis points. Management's preliminary outlook assumes a flat North American market and does not depend on a recovery in regional hydraulic fracturing activity.

Halliburton expects efforts to restore production, rebuild inventories and strengthen energy security to support multiyear demand growth for oilfield services. International opportunities, including deepwater developments involving BP and Eni, complement the company's focus on operational efficiency and margin improvement.

Halliburton Expands Deepwater and Technology PortfolioHalliburton secured an integrated contract from BP for the first appraisal campaign in Brazil's deepwater Bumerangue field. The agreement covers drilling and reservoir evaluation services, incorporating LOGIX automation and remote operations to improve execution efficiency and reduce operational complexity.

Separately, Eni awarded Halliburton an integrated well construction and completions contract for the Cronos ultra-deepwater development offshore Cyprus. The company also successfully deployed LOGIX automation on an Eni exploration well offshore Indonesia, demonstrating its drilling technology capabilities in complex offshore environments.

Additionally, Halliburton signed a multi-year digital transformation agreement with Pampa Energía in Argentina and secured a research and development agreement with Kuwait Oil Company, expanding its technology-focused initiatives across international markets.

Halliburton (HAL - Free Report) came out with quarterly earnings of $0.6 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +3.45%. A quarter ago, it was expected that this provider of drilling services to oil and gas operators would post earnings of $0.54 per share when it actually produced earnings of $0.55, delivering a surprise of +1.85%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Halliburton, which belongs to the Zacks Oil and Gas - Field Services industry, posted revenues of $5.7 billion for the quarter ended September 2026, surpassing the Zacks Consensus Estimate by 1.98%. This compares to year-ago revenues of $5.6 billion. The company has topped consensus revenue estimates four times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Halliburton shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 12.4%.

What's Next for Halliburton?While Halliburton has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Halliburton was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.64 on $5.69 billion in revenues for the coming quarter and $2.34 on $22.38 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Oil and Gas - Field Services is currently in the bottom 23% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Another stock from the same industry, Tetra Technologies (TTI - Free Report) , has yet to report results for the quarter ended September 2026. The results are expected to be released on November 2.

This oil and gas services company is expected to post quarterly earnings of $0.05 per share in its upcoming report, which represents a year-over-year change of +25%. The consensus EPS estimate for the quarter has been revised 10.5% lower over the last 30 days to the current level.

Tetra Technologies' revenues are expected to be $158.9 million, up 3.7% from the year-ago quarter.

HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) announced today net income attributable to company of $417 million, or $0.50 per diluted share, for the third quarter of 2026 and adjusted net income attributable to company4, excluding impairments and other charges and tax adjustments, of $501 million, or $0.60 per diluted share. This compares to net income attributable to company for the second quarter of 2026 of $534 million, or $0.64 per diluted share, and adjusted net income attribu.

Halliburton rises after outlining preliminary guidance for 2027 and reporting stronger-than-expected revenue for the Middle East region.

In the latest close session, Halliburton (HAL - Free Report) was up +1.7% at $33.45. The stock outperformed the S&P 500, which registered a daily loss of 1.09%. On the other hand, the Dow registered a loss of 0.34%, and the technology-centric Nasdaq decreased by 2.15%.

Shares of the provider of drilling services to oil and gas operators have depreciated by 3.35% over the course of the past month, underperforming the Oils-Energy sector's gain of 0.3%, and the S&P 500's gain of 2.44%.

The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on October 20, 2026. It is anticipated that the company will report an EPS of $0.58, marking stability compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $5.59 billion, reflecting a 0.13% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.34 per share and a revenue of $22.38 billion, indicating changes of -3.31% and +0.89%, respectively, from the former year.

Investors should also note any recent changes to analyst estimates for Halliburton. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% decrease. Halliburton currently has a Zacks Rank of #3 (Hold).

Investors should also note Halliburton's current valuation metrics, including its Forward P/E ratio of 14.06. This valuation marks a discount compared to its industry average Forward P/E of 20.5.

One should further note that HAL currently holds a PEG ratio of 1.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Field Services industry held an average PEG ratio of 1.9.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 33% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.

Wall Street analysts forecast that Halliburton (HAL - Free Report) will report quarterly earnings of $0.58 per share in its upcoming release, pointing to no change from the year-ago quarter. It is anticipated that revenues will amount to $5.59 billion, exhibiting a decrease of 0.1% compared to the year-ago quarter.

The consensus EPS estimate for the quarter has undergone a downward revision of 0.6% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.

That said, let's delve into the average estimates of some Halliburton metrics that Wall Street analysts commonly model and monitor.

The average prediction of analysts places 'Revenue- Drilling and Evaluation' at $2.41 billion. The estimate indicates a change of +1.5% from the prior-year quarter.

The consensus estimate for 'Revenue- Completion and Production' stands at $3.16 billion. The estimate suggests a change of -1.8% year over year.

It is projected by analysts that the 'Revenue- Latin America' will reach $1.06 billion. The estimate suggests a change of +6.8% year over year.

The combined assessment of analysts suggests that 'Revenue- Europe/Africa/CIS' will likely reach $924.18 million. The estimate indicates a year-over-year change of +11.6%.

Analysts predict that the 'Revenue- North America' will reach $2.29 billion. The estimate suggests a change of -3% year over year.

The consensus among analysts is that 'Revenue- Middle East/Asia' will reach $1.30 billion. The estimate points to a change of -7.9% from the year-ago quarter.

Analysts forecast 'Operating income- Completion and Production' to reach $515.78 million. The estimate is in contrast to the year-ago figure of $514.00 million.

Based on the collective assessment of analysts, 'Operating income- Drilling and Evaluation' should arrive at $338.14 million. The estimate compares to the year-ago value of $348.00 million.

View all Key Company Metrics for Halliburton here>>>

Over the past month, Halliburton shares have recorded returns of -3.4% versus the Zacks S&P 500 composite's +2.4% change. Based on its Zacks Rank #3 (Hold), HAL will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Key Takeaways Halliburton is set to report Q3 earnings on Oct. 20, with EPS pegged at 58 cents and revenues at $5.6 billion.Stronger fracturing demand, better pricing and software sales may support Halliburton's Q3 segment margins.Middle East disruptions, equipment mobilization expenses and SAP migration costs may weigh on HAL's earnings. Halliburton Company (HAL - Free Report) is set to release third-quarter 2026 results on Oct. 20. The Zacks Consensus Estimate for the to-be-reported quarter is pegged at a profit of 58 cents per share on revenues of $5.6 billion.

Let’s delve into the factors that might have influenced the oilfield service firm’s performance in the September quarter. But it’s worth taking a look at HAL’s previous-quarter performance first.

Highlights of Q2 Earnings & Surprise HistoryIn the last reported quarter, this Houston, TX-based provider of technical products and services to drillers of oil and gas wells beat the consensus mark, reflecting strong international operations. Halliburton reported adjusted net income per share of 55 cents, outperforming the Zacks Consensus Estimate by a penny. Revenues of $5.7 billion beat the Zacks Consensus of $5.5 billion.

HAL beat the Zacks Consensus Estimate in each of the last four quarters. This is depicted in the graph below:

Trend in Estimate RevisionThe Zacks Consensus Estimate for the third-quarter bottom line has remained unchanged over the past seven days. The estimated figure indicates no change year over year. The Zacks Consensus Estimate for revenues, meanwhile, suggests a marginal 0.1% decrease from the year-ago period.

Factors to ConsiderHalliburton's Drilling and Evaluation segment likely benefited from a favorable business mix and increased software sales during the third quarter of 2026. Management anticipated a sequential margin improvement of 25-75 basis points, supported by a seasonal recovery in higher-margin software revenues. Growing adoption of LOGIX drilling automation and the integration of Sekal technology may have strengthened service efficiency and customer demand. Additionally, more than 30 rig additions in North America likely supported drilling activity. However, management projected a 3-5% sequential revenue decline, reflecting reduced drilling fluids and testing activity across certain markets.

Halliburton's Completion and Production segment likely gained from improving hydraulic fracturing demand, better pricing and higher equipment utilization across North America during the third quarter. Management expected segment operating margins to increase 125-175 basis points sequentially, supported by stronger land fracturing profitability, artificial lift activity and recovering completion-tool deliveries in the Gulf of America. Limited availability of electric fracturing equipment may have strengthened pricing power. According to the Zacks Consensus Estimate, the company’s third-quarter Completion and Production operating income will be $516 million, slightly higher than the year-ago period.

On a somewhat bearish note, Halliburton's third-quarter earnings may have faced pressure from continued geopolitical uncertainty in the Middle East, which disrupted oilfield operations and delayed activity normalization. Management indicated that regional operations remained below pre-conflict levels, particularly offshore, while customers continued evaluating project restarts amid security concerns. Additionally, equipment mobilization expenses associated with international contract wins may have weighed on profitability. The company's third-quarter outlook assumed broadly stable Middle East activity without a full recovery. Higher expected interest expenses of approximately $5 million and SAP migration costs of about $45 million may have constrained earnings even further.

What Does Our Model Say?The proven Zacks model does not conclusively predict an earnings beat for Halliburton for the third quarter. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of beating estimates. But that’s not the case here.

You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, for this company is -0.38%.

Zacks Rank: HAL currently carries a Zacks Rank #3.

Stocks to ConsiderWhile an earnings beat looks uncertain for Halliburton, here are some energy firms that you may want to consider on the basis of our model:

Core Laboratories (CLB - Free Report) : It has an Earnings ESP of +3.03% and a Zacks Rank #3.Core Laboratories is scheduled to release earnings on Oct. 28.

Core Laboratories beat the Zacks Consensus Estimate for earnings in three of the last four quarters and met in the other, with the average being 14.6%. Valued at more than $465 million, it has lost 17.6% over the past year.

TechnipFMC plc (FTI - Free Report) : It has an Earnings ESP of +2.67% and a Zacks Rank #1.TechnipFMC is scheduled to release earnings on Oct. 29.

You can see the complete list of today’s Zacks #1 Rank stocks here.

For 2026, TechnipFMC has a projected earnings growth rate of 30.6%. Valued at around $27.7 billion, it has gained 95.4% in a year.

Chevon (CVX - Free Report) : It has an Earnings ESP of +4.51% and a Zacks Rank #1.Chevron is scheduled to release earnings on Oct. 30.

Chevron beat the Zacks Consensus Estimate for earnings in each of the last four quarters, with the average being 18.7%. Valued at around $430.2 billion, it has gone up 46% in a year.

Perpetual Ltd cut its stake in shares of Halliburton Company (NYSE:HAL – Free Report) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,230,711 shares of the oilfield services company’s stock after selling 83,456 shares during the period. Perpetual Ltd owned about 0.15% of Halliburton worth $39,137,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Halliburton during the second quarter valued at about $2,812,327,000. State Street Corp boosted its holdings in Halliburton by 4.5% during the second quarter. State Street Corp now owns 56,870,444 shares of the oilfield services company’s stock worth $1,930,752,000 after purchasing an additional 2,463,137 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Halliburton by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,502,988 shares of the oilfield services company’s stock worth $370,556,000 after purchasing an additional 367,701 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in Halliburton in the 2nd quarter worth about $345,941,000. Finally, Bank of New York Mellon Corp purchased a new stake in Halliburton in the 2nd quarter valued at about $337,486,000. 85.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets HAL has been the topic of several recent analyst reports. TD Cowen dropped their target price on shares of Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. BMO Capital Markets set a $37.00 target price on Halliburton in a report on Wednesday, July 22nd. Wall Street Zen lowered Halliburton from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Piper Sandler raised Halliburton from a “neutral” rating to an “overweight” rating and increased their price target for the company from $40.00 to $43.00 in a research report on Tuesday, July 14th. Finally, Barclays dropped their price target on Halliburton from $55.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Eighteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.24.

Read Our Latest Analysis on Halliburton Insider Activity at Halliburton In related news, COO Jeffrey Slocum sold 52,572 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $35.09, for a total value of $1,844,751.48. Following the transaction, the chief operating officer owned 118,730 shares in the company, valued at approximately $4,166,235.70. This represents a 30.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company’s stock.

Halliburton Stock Performance Shares of HAL stock opened at $32.54 on Tuesday. The firm has a market cap of $27.11 billion, a price-to-earnings ratio of 17.04, a P/E/G ratio of 1.88 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.50 and a current ratio of 2.02. Halliburton Company has a 52 week low of $21.46 and a 52 week high of $43.59. The firm’s 50-day simple moving average is $34.15 and its two-hundred day simple moving average is $36.33.

Halliburton (NYSE:HAL – Get Free Report) last released its earnings results on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion for the quarter, compared to analysts’ expectations of $5.50 billion. During the same period in the previous year, the company earned $0.55 earnings per share. The company’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, equities analysts forecast that Halliburton Company will post 2.34 earnings per share for the current year.

Halliburton Dividend Announcement The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, September 2nd. Halliburton’s payout ratio is 35.60%.

Halliburton Company Profile (Free Report)

Halliburton Company (NYSE: HAL) is a global provider of products and services for the energy industry. The company supports the exploration, development, and production of oil and natural gas through technologies and services used throughout the life cycle of a well.

Halliburton operates through two primary business segments: Completion and Production, and Drilling and Evaluation. Its offerings include cementing, stimulation, well completion, production enhancement, drilling services, drilling fluids, well testing, wireline and perforating services, formation evaluation, and project management.

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Halliburton (HAL - Free Report) closed at $32.78 in the latest trading session, marking a +2.92% move from the prior day. The stock's performance was ahead of the S&P 500's daily gain of 0.66%. At the same time, the Dow added 0.18%, and the tech-heavy Nasdaq gained 1.05%.

Coming into today, shares of the provider of drilling services to oil and gas operators had lost 14.08% in the past month. In that same time, the Oils-Energy sector lost 2.73%, while the S&P 500 gained 0.55%.

Market participants will be closely following the financial results of Halliburton in its upcoming release. The company plans to announce its earnings on October 20, 2026. On that day, Halliburton is projected to report earnings of $0.58 per share, which would represent no growth from the year-ago period. Meanwhile, the latest consensus estimate predicts the revenue to be $5.59 billion, indicating a 0.13% decrease compared to the same quarter of the previous year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.34 per share and a revenue of $22.39 billion, indicating changes of -3.31% and +0.94%, respectively, from the former year.

Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Halliburton. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 remained stagnant. Currently, Halliburton is carrying a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Halliburton has a Forward P/E ratio of 13.6 right now. This denotes a discount relative to the industry average Forward P/E of 21.12.

One should further note that HAL currently holds a PEG ratio of 1.84. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 1.84.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 90, placing it within the top 37% of over 250 industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

Key Takeaways CVX is expanding its Venezuelan footprint with more than $7 billion in planned investment over five years.E became operator of Junin-5, a 35-billion-barrel heavy-oil field targeting 400,000 barrels per day by 2030.TTE and HAL are renewing Venezuelan activity through energy cooperation and development agreements. Venezuela’s oil and gas industry is attracting renewed interest from international energy companies, creating a potentially important investment theme for the global energy sector. Fresh agreements involving major producers and oilfield service companies point to increasing efforts to develop the country’s enormous hydrocarbon resources.

The renewed focus on Venezuela comes as global oil markets face continued supply uncertainty. Crude oil remained above $90 per barrel on Thursday as investors weighed recovering Middle East supplies against ongoing U.S.-Iran negotiations. Uncertainty surrounding the Strait of Hormuz and OPEC+’s decision to maintain November output quotas could increase the strategic importance of Venezuela’s large oil resource base.

Several companies with Venezuelan exposure have delivered strong share price gains over the past year. Eni S.p.A. (E - Free Report) shares have advanced 55.4%, while TotalEnergies SE (TTE - Free Report) , Halliburton Company (HAL - Free Report) and Chevron Corporation (CVX - Free Report) have gained 43.3%, 29.3% and 31.5%, respectively.

How Energy Stocks Have Performed Over the Past Year
Image Source: Zacks Investment Research

The gains highlight the strong recent performance of these energy stocks, although their future performance will depend on company-specific operating results, oil prices and the execution of Venezuelan projects.

The emerging Venezuela opportunity is centered on four themes: higher investment in Venezuelan oil assets, production growth, development of heavy-oil resources and rising demand for oilfield services. For investors, these trends could create different forms of exposure across the energy value chain, from upstream production to drilling and field-development services.

International Investment Could Accelerate Venezuela’s Oil DevelopmentVenezuela holds a massive resource base, particularly in the Orinoco Belt, where much of the crude is heavy or extra-heavy oil. Developing these resources requires substantial capital, specialized technology, infrastructure and long-term field-development plans.

Recent agreements indicate that international companies are increasing their involvement. Greater international participation could increase spending on drilling, reservoir evaluation, production infrastructure and enhanced oil recovery. This could benefit both producers and oilfield service companies as Venezuela attempts to translate its large resource base into higher commercial production.

Eni: Junín-5 Provides a Large-Scale Growth OpportunityEni provides significant upstream angle through its Junín-5 development. Eni and PDVSA signed a 25-year hydrocarbon participation contract on Sept. 2, 2026, under which Eni became the exclusive operator of the Junín-5 area. The heavy-oil field contains 35 billion barrels of certified oil in place and currently produces approximately 12,000 barrels per day.  

Eni and PDVSA plan to invest approximately $1.5 billion annually in the project. Reuters reported that production is expected to reach around 400,000 barrels per day by 2030.

The project could therefore become an important source of future production growth for Eni. Its scale also illustrates the capital and technical expertise required to develop Venezuela’s heavy-oil resources.

Eni already has an established Venezuelan presence through assets including the Perla gas field and Corocoro oil field. This existing operating experience could support its role in additional Venezuelan development projects. Eni sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

TotalEnergies: Potential Return to Venezuelan OilTotalEnergies represents a different form of exposure because its latest Venezuelan initiative remains at an earlier stage. TotalEnergies and PDVSA signed a memorandum of understanding (MOU) on Sept. 19, 2026, establishing a framework for energy cooperation in Venezuela. Details regarding the scope and value of the agreement have not been disclosed, making it premature to quantify the potential production or financial contribution.

For investors, the key factor will be whether the MOU develops into specific projects and capital commitments. At this stage, the agreement signals renewed engagement rather than a defined production program. TotalEnergies carries a Zacks Rank #2 (Buy).

Chevron: Direct Exposure to Venezuelan Production GrowthChevron offers direct exposure to Venezuela’s potential production expansion. On Sept. 2, 2026, Chevron announced updated agreements covering its Venezuelan joint ventures and additional acreage in the Orinoco Belt. The agreements underpin plans to invest more than $7 billion over the next five years and more than double production to approximately 600,000 barrels per day compared with 2026 levels. Chevron also reported that production from its three Venezuelan joint ventures increased 15% through the second quarter of 2026.

The company’s long operating history in Venezuela and existing infrastructure provide an established platform for additional development. Higher production could increase upstream volumes and strengthen Chevron’s long-term production portfolio. Chevron currently carries a Zacks Rank #3 (Hold).

Halliburton: Rising Activity Could Support Oilfield ServicesHalliburton provides exposure through the oilfield services side of Venezuela’s potential revival. It announced MOUs with Eneva and WESCA on Sept. 21, 2026, to support energy development opportunities in Venezuela. Under the WESCA agreement, Halliburton will support field evaluation and development planning, while its agreement with Eneva is intended to identify and pursue additional development opportunities.

This provides Halliburton with potential exposure to increased drilling, reservoir evaluation and development activity. Unlike Chevron and Eni, whose opportunities are directly linked to production growth, Halliburton’s potential benefit depends more on the level of capital spending and field-development activity generated by Venezuela’s producers. HAL carries a Zacks Rank #3.

ConclusionVenezuela’s renewed appeal among international energy companies is creating an emerging investment theme across the oil and gas value chain. Higher capital spending and development activity could support production growth while creating additional demand for specialized oilfield services.

CVX provides direct exposure through its expanding Venezuelan production portfolio, while E has a major development opportunity through Junín-5. TTE offers potential exposure to a renewed Venezuelan presence, while HAL could benefit from higher field-development and service activity.

For investors, the key factor to watch is the conversion of agreements and investment plans into actual projects, production growth and sustained industry spending. Venezuela’s large resource base creates significant potential, but the financial impact on individual companies will depend on project execution, capital requirements, oil prices, infrastructure development and the evolution of the country’s operating environment.

Halliburton (HAL - Free Report) closed the most recent trading day at $32.43, moving -1.01% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.77% for the day. Meanwhile, the Dow lost 0.67%, and the Nasdaq, a tech-heavy index, lost 0.92%.

The stock of provider of drilling services to oil and gas operators has fallen by 9.45% in the past month, lagging the Oils-Energy sector's gain of 1.13% and the S&P 500's gain of 0.96%.

The upcoming earnings release of Halliburton will be of great interest to investors. The company's earnings report is expected on October 20, 2026. The company is predicted to post an EPS of $0.58, indicating constancy compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $5.59 billion, reflecting a 0.13% fall from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.34 per share and a revenue of $22.39 billion, indicating changes of -3.31% and +0.94%, respectively, from the former year.

Investors should also take note of any recent adjustments to analyst estimates for Halliburton. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Halliburton is currently sporting a Zacks Rank of #3 (Hold).

From a valuation perspective, Halliburton is currently exchanging hands at a Forward P/E ratio of 13.99. This indicates a discount in contrast to its industry's Forward P/E of 22.03.

Meanwhile, HAL's PEG ratio is currently 1.89. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The average PEG ratio for the Oil and Gas - Field Services industry stood at 1.89 at the close of the market yesterday.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 78, putting it in the top 32% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow HAL in the coming trading sessions, be sure to utilize Zacks.com.

Halliburton Company (NYSE:HAL, XETRA:HAL) is expected to report third-quarter adjusted EBITDA of $1.03 billion, in line with Street estimates, according to a preview note from UBS. 

The bank forecasts 3Q26 revenue of $5.58 billion, also in line with consensus, and adjusted earnings per share of $0.58, slightly below the Street's $0.59 estimate.  

UBS noted the quarter will see working capital headwinds from early accounts payable payments related to a SAP migration, though this is expected to normalize in the fourth quarter. 

Higher mobilization costs are also weighing on the quarter as Halliburton moved frac crews to Saudi Arabia and Argentina. 

Looking to the fourth quarter, UBS forecasts 2% top-line growth to $5.69 billion, in line with Street's $5.68 billion, and adjusted EBITDA of $1.08 billion, also matching consensus. The bank attributed this to continuing Middle East headwinds, a partial quarter contribution from the mobilized frac crews, normal seasonality within North America, and year-end software sales. 

In North America, Halliburton continues to push frac pricing where possible, but UBS said the increases will likely be more gradual than peers given the company's higher weighting toward term contracts and electric crews. The bank expects at least a modest improvement in North American frac market activity in 2027, pointing to producers potentially using higher oil price assumptions during budgeting season and incremental completion work tied to a rig count increase seen since the conflict began. 

On Venezuela, Halliburton signed two memorandums of understanding to re-enter the country, one with Eneva and one with WESCA. While no formal contracts have been signed, UBS views the announcement positively, saying it pulls forward the timeline for potential activity in the country. The bank noted Halliburton previously generated more than $500 million in Venezuela 10 to 15 years ago, when the country was producing 2 to 2.5 million barrels per day and in decline. 

UBS raised its FY27 and FY28 adjusted EBITDA estimates by less than 1%, to $4.66 billion and $4.94 billion respectively. The bank maintained its 7.75x multiple and $42 price target. 

Key Takeaways Halliburton signs Eneva and WESCA MOUs to pursue energy development opportunities in Venezuela.The WESCA deal supports field evaluation, development planning and subsurface interpretation in Venezuela.HAL's local infrastructure could support rising activity as Venezuela's energy sector attracts investment. Halliburton Company (HAL - Free Report) has signed memorandums of understanding (MOUs) with Brazilian energy company Eneva and WESCA to pursue energy development opportunities in Venezuela. The agreements expand Halliburton’s engagement in the country as oil and gas companies explore opportunities to revive production and develop assets that have remained underutilized.

Halliburton has nearly nine decades of experience in Venezuela and maintains strategically located bases, equipment and operational capabilities in the country. This established infrastructure could support the company as activity increases across Venezuela’s oil and gas sector.

Halliburton Partners With Eneva on Development OpportunitiesUnder the agreement with Eneva, Halliburton will collaborate with the Brazilian integrated energy company to identify and pursue energy development opportunities in Venezuela. Eneva is described in the source as one of Brazil’s leading integrated energy companies and its largest private natural gas operator.

The partnership builds on an existing relationship between Halliburton and Eneva in Brazil, providing a foundation for the companies to explore additional opportunities in Venezuela.

WESCA Agreement Focuses on Field EvaluationHalliburton has also entered into a separate MoU with WESCA under which it will support field evaluation and development planning in Venezuela. The two companies already work together on reservoir understanding and development decisions, including the use of digital technologies and subsurface interpretation.

The agreement could allow Halliburton to apply its technical and digital capabilities to help evaluate Venezuelan assets and support decisions related to their future development.

Venezuela Offers Long-Term Development PotentialVenezuela holds some of the world’s largest proven oil reserves, although production remains considerably below its potential after years of underinvestment, mismanagement and sanctions. The companies with existing positions in the country and those seeking new opportunities are negotiating or finalizing agreements that could help expand production and improve infrastructure.

For Halliburton, the opportunity is supported by its existing local footprint. The company has retained infrastructure, equipment and facilities in Venezuela, potentially providing a foundation for reactivating operations as investment activity improves.

Latin America Remains Important for HalliburtonThe latest agreements highlight Halliburton’s strategy of working with customers and partners to pursue international growth opportunities. Venezuela could become an important market as producers and investors seek to develop the country’s substantial hydrocarbon resources.

The source also identifies Latin America, with Venezuela at its core, as a potential critical driver of Halliburton’s international growth. Increased activity in the region could therefore provide an additional opportunity for the oilfield services provider to diversify its growth beyond the U.S. shale market.

HAL’s Zacks Rank & Key PicksHouston, TX-based Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Currently, HAL carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some better-ranked stocks like CrossAmerica Partners LP (CAPL - Free Report) , Delek Logistics Partners, LP (DKL - Free Report) and Magnolia Oil & Gas Corporation (MGY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

CrossAmerica Partners engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. The Zacks Consensus Estimate for CAPL’s 2026 earnings indicates 30.4% year-over-year growth.

Delek Logistics Partners owns, operates, acquires and constructs crude oil and refined products logistics and marketing assets. The Zacks Consensus Estimate for DKL’s 2026 earnings indicates 19.4% year-over-year growth.

Magnolia Oil & Gas is an independent upstream operator engaged in the exploration, development and production of natural gas, crude oil and natural gas liquids. The Zacks Consensus Estimate for MGY’s 2026 earnings indicates 64.3% year-over-year growth.

Halliburton (HAL.N) has signed memorandums of understanding with Brazilian energy company Eneva and WESCA to pursue oil ​and gas development opportunities in Venezuela, the ‌U.S. oilfield services provider said on Monday, as companies seek a potential revival of investment in the country's long-underdeveloped energy ​sector

Companies with existing positions in Venezuela, as well ​as those seeking new opportunities, are negotiating ⁠or finalizing agreements that could expand production, improve infrastructure ​after years of underinvestment.

Here are more details:

Halliburton and Eneva ​will identify and pursue energy development opportunities in Venezuela

Under a separate MoU, Halliburton will support WESCA with field evaluation and ​development planning, building on their existing work in ​reservoir analysis, digital technologies and subsurface interpretation

Interest in Venezuela has ramped up ‌dramatically ⁠since the U.S. capture of former President Nicolas Maduro in January, with oil producers and investors looking to re-enter the country.

Earlier this month, privately owned Continental ​Resources signed MoUs with ​Venezuela's state ⁠oil company PDVSA seeking to further operate and develop the Ayacucho 2 area ​in the Orinoco Belt, while Chevron (CVX.N) said it will invest $7 ​billion ⁠through its Venezuela joint ventures.

ExxonMobil (XOM.N) is reportedly in talks to return to the country and has expressed interest in ⁠the ​Petromonagas heavy oil project in ​the Orinoco Belt, as well as areas in the neighboring Carabobo block

Halliburton Company is upgraded to a Buy, reflecting a shift to a long-term investment thesis amid expectations of higher oil prices. HAL's H1 2026 results show revenue up 2% to $11.12B and net income up 47% to $995M, with comfortable debt servicing metrics. Future growth is tied to global drilling activity, especially potential expansion in Venezuela and international markets beyond the U.S. shale patch.

Key Takeaways Halliburton secured an integrated drilling, well construction and completions contract for Cronos.Eni targets first gas in 2028, with Cronos expected to reach 500 million standard cubic feet per day.HAL will deploy automation, drilling and pumping technologies to support complex deepwater operations. Halliburton Company (HAL - Free Report) has secured a bundled well construction and completions contract from Eni S.p.A. (E - Free Report) for the Cronos ultra-deepwater development in Block 6 of Cyprus’ Exclusive Economic Zone. The award expands Halliburton’s role in the Eastern Mediterranean and strengthens its offshore portfolio in a region emerging as an important natural gas development hub.

The contract covers integrated drilling, well construction, automation and completions services for exploration and development wells. By combining multiple services under one contract, Halliburton expects to reduce operational interfaces and improve execution certainty during the multi-year development campaign.

HAL’s Integrated Services Support Cronos DevelopmentUnder the agreement, Halliburton will provide a broad range of services, including drilling fluids, directional drilling, LOGIX automation and remote operations, cementing, surface well testing and coiled tubing. The company will leverage its existing infrastructure and regional capabilities in Cyprus to support logistics and execution throughout the campaign.

The bundled approach also highlights Halliburton’s ability to provide integrated solutions for technically complex deepwater projects. Such contracts can allow operators to coordinate multiple well services through a single provider while focusing on efficiency and reliable project execution.

Cronos Marks Key Milestone for Eni in CyprusCronos represents Eni’s first gas development in Cyprus and is located in Block 6, where Eni operates with a 50% interest alongside TotalEnergies. Eni reached the project’s final investment decision in July 2026, with first gas targeted for 2028.

The field contains more than 3 trillion cubic feet of gas initially in place and is expected to reach plateau production of about 500 million standard cubic feet per day. The produced gas is planned to be transported to Egypt’s Zohr facilities for processing before being liquefied at the Damietta LNG plant for export, primarily to European markets.

Technology Strengthens Halliburton’s Offshore OfferingHalliburton is also bringing its technology portfolio to the project. The company’s advanced solutions include ZEUS IQ, LOGIX automation, OCTIV pumping controls and the integration of Sekal’s closed-loop drilling capabilities. These technologies are designed to improve drilling precision, well placement, recovery and operational efficiency.

The combination of technology and integrated services could help Halliburton compete for complex offshore work where operators prioritize execution, performance and efficiency. The company expects the Cronos award to provide a platform for pursuing additional offshore campaigns in the Eastern Mediterranean.

Contract Adds to Halliburton’s Long-Term Offshore OpportunitiesThe Cronos contract strengthens Halliburton’s relationship with Eni while expanding its involvement in a major gas development in Cyprus. With Cronos targeting first gas in 2028, the project provides a multi-year opportunity for Halliburton’s drilling, well construction and completion businesses.

More broadly, the award underscores the potential for integrated oilfield-service providers to benefit as operators pursue increasingly complex deepwater gas developments. Halliburton’s established regional infrastructure, technology capabilities and bundled-service model position the company to seek further opportunities as offshore activity expands in the Eastern Mediterranean.

HAL’s Zacks Rank & Key PicksHouston, TX-based Halliburton is one of the largest oilfield service providers in the world, offering a variety of equipment, maintenance, and engineering and construction services to the energy, industrial and government sectors. Currently, HAL carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may consider some better-ranked stocks like Forum Energy Technologies, Inc. (FET - Free Report) and PBF Energy Inc. (PBF - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

Forum Energy Technologies is a global oilfield products company, serving the subsea, drilling, completion, production and infrastructure sectors of the oil and natural gas industry. The Zacks Consensus Estimate for FET’s 2026 earnings indicates 536.5% year-over-year growth.

PBF Energy is a leading independent crude oil refiner that produces unbranded transportation fuels, heating oil, petrochemical feedstocks, lubricants and other petroleum products. The Zacks Consensus Estimate for PBF’s 2026 earnings indicates 481.1% year-over-year growth.

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HOUSTON--(BUSINESS WIRE)--Halliburton Company (NYSE: HAL) will host a conference call on Tuesday, October 20, 2026, to discuss its third quarter 2026 financial results. The call will begin at 8:00 a.m. CT (9:00 a.m. ET).

The Company will issue a press release regarding the third quarter 2026 earnings prior to the conference call. The press release will be posted on the Halliburton website at www.halliburton.com.

Please visit the Halliburton website to listen to the call via live webcast. A recorded version will be available for seven days under the same link immediately following the conclusion of the conference call. You can also pre-register for the conference call and obtain your dial in number and passcode by clicking here.

About Halliburton

Halliburton is one of the world’s leading providers of products and services to the energy industry. Founded in 1919, we create innovative technologies, products, and services that help our customers maximize their value throughout the life cycle of an asset and advance a sustainable energy future. Visit us at www.halliburton.com; connect with us on LinkedIn, YouTube, Instagram and Facebook.

More News From Halliburton Company

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Eric Carre, EVP & Chief Financial Officer of Halliburton Company (HAL -2.98%), sold 24,777 shares of common stock on Aug. 31, 2026, according to a SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$929,138Shares sold24,777Post-transaction shares (directly held)124,104Post-transaction value$4.57 millionTransaction value based on SEC Form 4 weighted average sale price ($37.50); post-transaction value based on Aug. 31, 2026, market close ($36.85).

Key questionsHow does this transaction align with the executive's Rule 10b5-1 trading plan?
The sale was completed under a plan established on May 19, 2026, that allows scheduled equity liquidations regardless of short-term price fluctuations or market volatility.What is the impact on the executive's total equity exposure?
While the transaction involved 17% of the shares held before the filing, Eric Carre continues to hold 124,104.596 shares directly and maintains additional exposure through derivative securities.What was the market context at the time of the disposition?
The transaction was executed at $37.50 per share, with the stock closing at $36.85, resulting in a 66% total return over the past year as of Aug. 31, 2026.How does the executive's remaining stake correlate with Halliburton's core business segments?
Carre's residual equity position of 124,104.596 shares provides ongoing alignment with the company's two primary divisions, Completion and Production, and Drilling and Evaluation, as it continues to provide cementing and downhole completion services for the energy sector.Company OverviewMetricValueShare Price (as of market close 2026-08-31)$36.85Market Capitalization$30.7 billionRevenue (TTM)$22.4 billionNet Income (TTM)$1.6 billionCompany SnapshotHalliburton is a global supplier of products and services to the energy sector, operating through two primary divisions: Completion and Production, which enhances well output through stimulation and sand-control techniques, and Drilling and Evaluation, which provides drilling and formation-evaluation services.The company generates revenue through a diversified service model that includes cementing services for well integrity, specialized downhole completion tools, drilling fluids, and integrated drilling services, serving customers across the upstream oil and gas value chain.Halliburton serves major oil and gas operators globally, including national oil companies and independent producers, with a customer base spanning onshore and offshore markets across multiple geographic regions.

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Halliburton is a leading global oilfield services provider with approximately 46,000 employees and a market capitalization of $30.9 billion as of Aug. 31, 2026. The company maintains a competitive position through its integrated service offerings, technical expertise, and extensive geographic footprint, enabling it to address complex operational challenges across the energy sector.

With TTM revenue of $22 billion and net income of $1.6 billion, Halliburton demonstrates substantial scale and profitability within the oil and gas equipment and services industry.

What this transaction means for investorsThis sale shouldn't concern investors. It represented a small portion of the insider's overall directly held stake in the company's stock. Moreover, it was completed under a pre-adopted plan commonly used by insiders to conduct transactions for personal financial management.

The company's revenue performance was roughly flat on a trailing-12-month basis through the second quarter. Revenue grew 6% year over year in Q2, while generating $668 million in free cash flow.

Management is shifting investment to its global fleet, where margins are more attractive. This is positive for the company's financial prospects in the coming years, especially if the North American market remains stable.

John Ballard has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Halliburton (NYSE:HAL – Get Free Report) and SEACOR Marine (NYSE:SMHI – Get Free Report) are both energy companies, but which is the superior stock? We will contrast the two businesses based on the strength of their institutional ownership, valuation, analyst recommendations, earnings, profitability, risk and dividends.

Analyst Recommendations This is a summary of recent ratings and target prices for Halliburton and SEACOR Marine, as reported by MarketBeat.com.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Halliburton 1 6 18 0 2.68 SEACOR Marine 1 1 1 0 2.00 Halliburton presently has a consensus price target of $43.10, indicating a potential upside of 16.32%. SEACOR Marine has a consensus price target of $10.00, indicating a potential upside of 2.56%. Given Halliburton’s stronger consensus rating and higher possible upside, equities research analysts plainly believe Halliburton is more favorable than SEACOR Marine.

Volatility & Risk Halliburton has a beta of 0.76, meaning that its stock price is 24% less volatile than the S&P 500. Comparatively, SEACOR Marine has a beta of 1.08, meaning that its stock price is 8% more volatile than the S&P 500. Profitability This table compares Halliburton and SEACOR Marine’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Halliburton 7.16% 18.71% 7.89% SEACOR Marine -8.62% -8.72% -3.46% Earnings & Valuation This table compares Halliburton and SEACOR Marine”s top-line revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Halliburton $22.18 billion 1.39 $1.28 billion $1.91 19.40 SEACOR Marine $227.83 million 1.16 -$27.84 million ($0.71) -13.73 Halliburton has higher revenue and earnings than SEACOR Marine. SEACOR Marine is trading at a lower price-to-earnings ratio than Halliburton, indicating that it is currently the more affordable of the two stocks.

Insider & Institutional Ownership 85.2% of Halliburton shares are held by institutional investors. Comparatively, 59.1% of SEACOR Marine shares are held by institutional investors. 0.6% of Halliburton shares are held by company insiders. Comparatively, 16.8% of SEACOR Marine shares are held by company insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a stock will outperform the market over the long term.

Summary Halliburton beats SEACOR Marine on 12 of the 14 factors compared between the two stocks.

About Halliburton (Get Free Report)

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems. This segment also provides electrical submersible pumps, as well as artificial lift services; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, and pumping and nitrogen services; pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning; and specialty chemicals and services. The Drilling and Evaluation segment offers drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; drilling systems and services; wireline and perforating services consists of open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone rock bits, fixed cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment and services. This segment also provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and project management and integrated asset management services. Halliburton Company was founded in 1919 and is based in Houston, Texas.

About SEACOR Marine (Get Free Report)

SEACOR Marine Holdings Inc. provides marine and support transportation services to offshore oil, natural gas, and windfarm facilities worldwide. Its offshore support and specialty vessels deliver cargo and personnel to offshore installations, including offshore wind farms; handle anchors and mooring equipment for offshore rigs and platforms; assist offshore operations for production and storage facilities; provide construction, well work-over, and offshore wind farm installation and decommissioning support; and carry and launch equipment used underwater in drilling and well installation, maintenance, inspection, and repair, as well as offer accommodations for technicians and specialists, safety support, and emergency response services. As of December 31, 2023, the company operated a fleet of 58 support vessels, of which 55 were owned or leased-in, and three were managed on behalf of unaffiliated third parties. It serves integrated national and international oil companies, independent oil and natural gas exploration and production companies, and oil field service and construction companies, as well as offshore wind farm operators and offshore wind farm installation and maintenance companies. SEACOR Marine Holdings Inc. was founded in 1989 and is headquartered in Houston, Texas.

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Iran and Venezuela just handed energy investors two completely opposite catalysts at the same time, and Chevron, Exxon, and Halliburton are reacting in real time as traders try to figure out which story actually matters for their portfolios.

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Energy stocks led the market higher Monday morning as two major oil catalysts hit at once. CNBC’s Dominic Chu framed the setup on the network’s opening segment on Monday: “Oil prices did jump by about 3% on the resumption of those attacks, and that sent energy stocks higher.”

He added that “Chevron, Exxon Mobil, Halliburton, and Occidental Petroleum all in the green this morning after getting another boost on Friday, when President Trump said the U.S. had a deal with Venezuela to control more than 65 billion barrels of its oil reserves.” The Venezuela announcement won’t impact today’s supply, but it adds a long-horizon reserves story.

The U.S. and Iran traded strikes over the weekend, the first time in more than a month, which adds a supply-risk premium to energy prices.

Iran Strikes Send Oil Prices Up 3% Chevron (NYSE:CVX | CVX Price Prediction) opened higher, trading at $208.18 Tuesday morning, up 1.00% on the session and 36.13% year-to-date. On the Q2 call, CEO Mike Wirth flagged the region directly, saying “the impact from the Middle East conflict remained isolated to the partition zone representing about 1% of second quarter total production.” Chevron still delivered $12.1 billion in earnings, or $6.11 per share, and cut debt by more than $8 billion in the quarter.

Exxon Mobil (NYSE:XOM) trades at $162.91 on Tuesday, up 1.20% intraday. Exxon’s Q1 report disclosed $706 million in losses tied to Middle East supply disruptions, and CEO Darren Woods said: “Events in the Middle East tested that strength with the safety of our people remaining our top priority.”

Halliburton (NYSE:HAL) added 1.53% to $36.74, extending a 16% one-month rally. Middle East and Asia revenue was down 2% sequentially in Q2 on activity disruptions in Kuwait, Iraq, and Qatar.

Occidental Petroleum (NYSE:OXY) rose 0.76% to $59.55. CEO Richard Jackson said on the Q2 call that Occidental “fully offset the disruptions of our production in the Middle East” through Permian and Gulf of America volumes.

Trump’s 65 Billion-Barrel Venezuela Deal Is a Very Different Catalyst President Trump announced Friday that the U.S. had a deal with Venezuela to control more than 65 billion barrels of its oil reserves. Chevron is the most direct beneficiary given its three producing joint ventures with PDVSA.

Chevron CEO Mike Wirth told analysts Chevron has grown production from those three JVs “from 40,000 to 250,000” barrels per day and that “we’re in negotiations right now to try to improve the fiscal terms and enable more investment in Venezuela.” CFO Eimear Bonner said on debt recovery, “we expect that by early 2027, that will be fully recovered.”

The reserves headline is a long-horizon story: Venezuelan infrastructure has been degraded by years of sanctions and disinvestment, and heavy and extra-heavy crude requires specialized handling that takes time to rebuild. Retail investors have zeroed in on that gap. Reddit’s most-discussed Chevron thread over the weekend was titled “Trump announced a deal for 65 billion barrels of Venezuelan oil. How much of that is actually investable?” with sentiment scores clustering in a neutral 49 to 58 range.

Key Takeaways Iran and Venezuela are giving energy investors two very different catalysts. Renewed Middle East fighting can move oil prices immediately, while Venezuela’s 65 billion barrels could take years to translate into meaningful production.

Contact [email protected] for any questions or corrections.

HOUSTON--(BUSINESS WIRE)--Halliburton (NYSE: HAL) today announced it received an integrated contract by bp for the first appraisal campaign in the Bumerangue field, offshore deepwater Brazil. The award includes a comprehensive suite of services to fast-track the appraisal campaign for bp's discovery. The contract includes an integrated package of drilling services to optimize reservoir evaluation and improve operational efficiency. The scope draws on Halliburton's drilling and evaluation portfo.

In the latest trading session, Halliburton (HAL - Free Report) closed at $34.44, marking a +1.89% move from the previous day. The stock's change was more than the S&P 500's daily loss of 0.02%. At the same time, the Dow lost 0.21%, and the tech-heavy Nasdaq lost 0.08%.

Coming into today, shares of the provider of drilling services to oil and gas operators had gained 8.23% in the past month. In that same time, the Oils-Energy sector gained 1.07%, while the S&P 500 gained 3.67%.

The investment community will be closely monitoring the performance of Halliburton in its forthcoming earnings report. The company is predicted to post an EPS of $0.58, indicating constancy compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $5.59 billion, down 0.13% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.34 per share and revenue of $22.39 billion, which would represent changes of -3.31% and +0.94%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Halliburton. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.3% lower. Halliburton presently features a Zacks Rank of #3 (Hold).

Digging into valuation, Halliburton currently has a Forward P/E ratio of 14.43. This represents a discount compared to its industry average Forward P/E of 23.61.

We can also see that HAL currently has a PEG ratio of 2.12. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Oil and Gas - Field Services industry was having an average PEG ratio of 1.92.

The Oil and Gas - Field Services industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 153, this industry ranks in the bottom 38% of all industries, numbering over 250.

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

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.