Bullish case
$56 to $62
More likely if international revenue keeps growing low double digits, North America margins improve as guided, Middle East activity stabilizes and recovers, and HAL holds above the 200-day average with rising free cash flow.
Halliburton Company research snapshot
HAL AI Stock Analysis
HAL AI stock analysis reads Halliburton as a scaled oilfield services leader that beat consensus in Q2 2026, with international revenue at its highest second quarter level in more than a decade and a North America recovery underway. The forecast is scenario-based rather than a precise price prediction: current data supports a watchlist or risk-controlled setup, while a durable bullish case needs Middle East activity to stabilize, North America margins to keep improving, and a technical close back above the 200-day average near $33.74.
Current price
$32.25
Market cap
$26.87 billion
AI score
62 / 100
Rating
Cyclical quality improving, margin of safety still required
Trend status
Below both the 50-day and 200-day moving averages after a Q2 earnings beat
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
Research quality check
- information Richness
- A-level information richness. Halliburton is a long-listed large-cap with SEC filings, company releases, Q2 2026 earnings materials, third-party financial data, technical indicator feeds, and broad analyst coverage.
- bias Check
- The main AI research risk is repeating the consensus oilfield-cycle narrative. This page checks the opposite case: Middle East conflict that can persist longer than expected, customer budget discipline, the recent share price decline below key moving averages, and a low multiple that can stay low if earnings estimates fall.
- ai Confidence
- High for reported FY2025 revenue, segment revenue, Q2 2026 results, share count, consensus estimates, and recent price data. Medium for forward valuation because oilfield activity and service pricing can change quickly.
- investment Certainty
- Medium-low. Halliburton has durable scale and technology, and Q2 2026 showed cash flow recovery, but investment certainty is still limited by Middle East uncertainty and commodity-driven budget cyclicality.
Quick verdict table
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Halliburton is a top-tier provider of completion, production, drilling, evaluation, software, and digital services for upstream energy customers, and Q2 2026 showed broad international strength. | Medium-high |
| Moat | Scale, field execution, technology, customer relationships, and global logistics create a moat, but pricing power still depends on activity cycles and the pace of Middle East recovery. | Medium |
| Management | Jeff Miller has deep Halliburton experience, and the Q2 2026 call showed disciplined capital allocation, technology-led contract wins, and a return toward prior buyback levels. | Medium-high |
| Financial trend | FY2025 revenue fell 3% to $22.18 billion, Q1 2026 profit recovered, and Q2 2026 delivered $5.7 billion revenue with $668 million free cash flow and adjusted EPS above consensus. | High |
| Valuation | At $32.25, HAL trades near 16.9x trailing EPS, 13.7x consensus FY2026 EPS, 2.4x book value, and about 15.6x trailing free cash flow per share. | Medium |
| Technical trend | HAL is below both the 50-day average near $36.21 and the 200-day average near $33.74. The setup is not confirmed until the 200-day area is reclaimed. | Medium |
| Risk level | Main risks are Middle East conflict duration, oil and gas budget cuts, pressure pumping pricing, debt load, and litigation or regulatory exposure. | Medium-high |
| AI confidence | Descriptive confidence is high because the data set is rich and includes fresh Q2 2026 results. Return confidence is lower because cyclicals can re-rate before fundamentals confirm. | High data confidence |
| Investment certainty | The business is easier to understand than many energy names, and Q2 2026 improved the evidence base, but the stock still needs a margin of safety and technical confirmation. | Medium-low |
HAL AI stock forecast
HAL AI Stock Forecast Scenarios
The HAL AI stock forecast should be read as scenario math, not a guaranteed price target. Using a July 31, 2026 price reference near $32.25 and consensus FY2026 adjusted EPS near $2.35, the tested three-year framework spans roughly $22 to $26 in a bear case, $36 to $41 in a base case, and $56 to $62 in a bullish case before dividends.
Base case
$36 to $41
More likely if consensus FY2026 EPS near $2.35 and FY2027 growth near 20% are delivered, the market assigns a mid-teens earnings multiple, and capital returns continue without a major activity downturn.
Bearish case
$22 to $26
More likely if the Middle East disruption deepens, upstream budgets weaken, Q2 margin guidance does not hold, or the market prices HAL as a low-multiple cyclical with falling estimates.
HAL AI technical analysis
HAL AI Technical Analysis
HAL AI technical analysis is negative as of the August 2, 2026 data cutoff. StockAnalysis reported a July 31 close of $32.25, about 26% below the 52-week high of $43.59. The stock is below both the 50-day average near $36.21 and the 200-day average near $33.74, and RSI near 38 shows weak momentum without an oversold extreme.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $32.25 | StockAnalysis reported the July 31, 2026 close at $32.25, after an intraday range of $31.51 to $32.36. |
| Immediate support | $31.50 to $32.00 | The July 31 low was $31.51, and recent trading has held the low-$31 to low-$32 area. |
| Lower support zone | $30.00 to $31.00 | A break below the immediate support would open the round $30 zone and raise the risk of a deeper cyclical reset. |
| Near resistance | $33.74 | Barchart and StockAnalysis place the 200-day average near $33.74, the first major technical hurdle. |
| 50-day moving average | $36.21 | Barchart and StockAnalysis place the 50-day average near $36.21, the main medium-term hurdle. |
| 100-day moving average | $37.52 | Barchart places the 100-day average near $37.52, above both shorter averages. |
| Momentum | RSI about 38 | StockAnalysis reported RSI near 38.49 and Barchart a similar 14-day RSI. Momentum is weak but not yet oversold. |
| Volume | 9.3M vs 12.1M 20-day average | StockAnalysis reported July 31 volume near 9.3 million shares, below the recent 20-day average of about 12.1 million. |
| Volatility marker | 52-week range $20.39 to $43.59 | The wide range shows how quickly HAL can move when oilfield activity expectations or Middle East headlines change. |
| Invalidation | Close below $31 | A close below the low-$31 support would invalidate any short-term stabilization and pressure the stock toward the $30 area. |
HAL AI trading strategy
HAL AI Trading Strategy Framework
The HAL AI trading strategy below is a rules-based research framework, not personal advice. It combines Q2 2026 evidence, Middle East risk awareness, technical confirmation, and predefined invalidation levels.
Trend-following setup
Wait for HAL to reclaim the 200-day average near $33.74 first, then the $36.21 50-day moving average, with volume above the recent 20-day average as confirmation.
Use a close back below the 200-day area or a close below $31 as a rules-based invalidation signal.
Mean-reversion setup
If HAL holds the $31.50 to $33.00 zone while Q3 commentary confirms margin guidance and steady Middle East activity, compare the rebound against oil prices, rig counts, and service pricing data.
Avoid averaging down if the stock breaks below $31 or if management signals weaker free cash flow conversion.
Fundamental monitor
Track Completion and Production margins and Q3 guidance, Drilling and Evaluation activity, North America stimulation demand, international revenue growth, Middle East activity, cash flow from operations, buybacks, and dividend coverage.
Do not treat a low multiple as a stop-loss substitute. Position sizing should account for earnings revisions and Middle East escalation risk.
Investment research summary
Four-master Research Compression
Business essence
Halliburton helps oil and gas operators drill, complete, produce, and optimize wells. Customers pay because uptime, reservoir knowledge, safety, field execution, and production economics matter more than a simple equipment purchase.
Moat
The moat comes from global scale, trained field teams, proprietary completion and drilling technologies, software, customer relationships, and the ability to execute complex projects. It narrows when oilfield activity falls and service capacity competes for fewer jobs.
Munger risk inversion
The thesis fails if the Middle East conflict lasts longer than expected, customer budgets fall, North America pricing stalls, digital and technology gains do not offset cycle pressure, or free cash flow fails to support capital returns.
Management
Jeff Miller is Chairman, President, and CEO, with long Halliburton tenure and direct industry expertise. Management has returned capital through dividends and buybacks, and Q2 2026 confirmed the intent to rebuild buyback pace after a more conservative start to the year.
Industry trend
Halliburton sits inside the upstream energy investment cycle. Energy security, international development, unconventional production, and digital oilfield tools are supportive, while decarbonization, oil-price volatility, and customer capital discipline limit certainty.
Valuation and margin of safety
At about $32.25, HAL is not priced for high growth, and the stock is below both major moving averages. Margin of safety depends on consensus FY2026 EPS near $2.35 holding, free cash flow staying near the Q2 pace, and the stock holding the low-$31 technical base.
Source-backed data
HAL Data Table
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| HAL closing price | $32.25 on July 31, 2026 | StockAnalysis market data | August 2, 2026 |
| Shares outstanding | 833.13 million | StockAnalysis statistics | August 2, 2026 |
| Market cap | $26.87 billion calculated from $32.25 x 833.13M shares | Pineify financial_rigor.py calculation, 0.01% deviation from reported | August 2, 2026 |
| Q2 2026 results | $5.7B revenue, $534M net income, $0.64 diluted EPS, $668M free cash flow | Halliburton Q2 2026 results release and earnings call | August 2, 2026 |
| Q2 2026 adjusted EPS vs consensus | $0.55 adjusted EPS vs $0.54 consensus | TheFly via TipRanks | August 2, 2026 |
| FY2025 revenue | $22.184 billion | Halliburton Q4 2025 results release | August 2, 2026 |
| TTM financials | $22.37B revenue, $1.60B net income, $1.91 EPS as of Jun 2026 | StockAnalysis financials | August 2, 2026 |
| Cash and total debt | $2.05B cash, $8.20B total debt as of Jun 2026 | StockAnalysis balance sheet | August 2, 2026 |
| TTM cash flow | $2.75B operating cash flow, $1.73B free cash flow | StockAnalysis cash flow statement | August 2, 2026 |
| FY2025 segment revenue | Completion and Production $12.782B; Drilling and Evaluation $9.402B | Halliburton Q4 2025 results release | August 2, 2026 |
| Valuation ratios | PE 16.91, Forward PE 12.63, PS 1.20, PB 2.44, P/FCF 15.58 | StockAnalysis statistics | August 2, 2026 |
| Analyst consensus | Buy, 28 analysts, average price target $43.52 | StockAnalysis forecast | August 2, 2026 |
| Technical moving averages | 50-day average near $36.21; 200-day average near $33.74 | Barchart and StockAnalysis technical feeds | August 2, 2026 |
Frequently Asked Questions
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This HAL AI stock analysis is an informational research tool only and is not investment advice, a recommendation, or a guarantee of future returns. Forecast scenarios are based on available public data as of August 2, 2026 and can be wrong if earnings, Middle East events, oilfield activity, valuation multiples, or market conditions change.
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