Halliburton stock (NYSE: HAL), an energy company organized into the exploration, development, and production of oil and natural gas, is scheduled to report its fiscal third-quarter results on Tuesday, October 24. We expect HAL’s stock to see little to no movement due to revenues and earnings matching market expectations in its third quarter. In Q2 2023, HAL’s North American revenue fell 2% quarter-over-quarter to $2.7 billion, driven primarily by decreased stimulation activity in U.S. land drilling. This segment accounts for 55% of the company’s total revenues. So, it will be interesting to see how this division’s revenue fares in the upcoming third-quarter results. Halliburton
HAL
Among the most significant risks to oil markets since Russia’s invasion of Ukraine last year is the latest geopolitical tension between Hamas and Israel. There have not yet been any impacts on oil flows due to the conflict, but there could be major repercussions if it escalates. If the U.S. steps up sanctions against Iran, this would likely further strain an already tight oil market. That said, Halliburton has a strong position to benefit from high crude oil prices. The growing tight supplies due to geopolitical uncertainty and the soaring demand from the reopening of China’s economy could likely bode well for energy prices by the end of 2023.
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