Halliburton Company (NYSE: HAL), an American multinational corporation, added approximately $29.76 Billion market cap. As per its financial statements, its earnings per share (EPS) for Q1 2023 is $0.72, whereas the estimation was $0.67, which accounts for a 7.22% surprise. Additionally, the revenue was $5.68 Billion despite the estimated figure of $5.50 Billion.
Now, for the upcoming quarter, the estimated EPS is $0.75, while revenue is expected to reach $5.87 Billion.
The revenue overview of Halliburton Company amounted to $20.30 Billion last year, out of which, around $11.58 Billion was brought from its highest performing source at the moment, Completion and Production. Notably, the greatest portion to the revenue figure was made by the U.S. bringing the company $9.13 Billion, last year.
HAL Stock Price Analysis
Last week, HAL stock performed quite well, noting a nearly 9% price gain, as per the data sourced from TradingView, a web-based social network for traders. But on June 30, 2023, Friday, the stock price showed little price decline with 0.60% and closed at $32.99, while the opening price of stock was $33.43, high was $33.49, and low was $32.96. However, the year-to-date (YTD) price of the stock showed a nearly 15% price drop.
Near the weekend, HAL stock showed bearishness which can continue its trend on Monday, July 3, 2023. However, this will require bears dominance in the market which can face a tough competition from the active bulls.
As shown in the above price chart, HAL stock price reached its 200-day moving average, while quite good trading volume has also been seen in the most recent time. With a boost in the trading volume, the RSI of the stock also took an upside ride.
Furthermore, the analysts have set a 1-year $47.50 price target, which is up nearly 43% from the recent closing price of HAL stock. Also, their maximum estimate for the stock is ranging at $58.00, while minimum estimate is at $34.00.
To continue its bullishness on this Monday, the HAL stock price needs massive bulls support. Last week’s stock performance showed the dominance of bulls which can be expected this week. This would be possible if the bears stay less active and will not continue their potential performance of the Friday trading session.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/03/will-halliburton-company-hal-stock-continue-its-bullishness/