The IBD SmartSelect Composite Rating for Halliburton stock increased from 93 to 96 Wednesday. The oil & gas stock has a 97 Relative Strength Rating.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.
Halliburton stock has pulled back off its 52-week high amid the stock market correction and is not currently near a proper entry. See if the stock goes on to form a new base and offer a new buying opportunity.
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One weak spot is the company's 78 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of E shows heavy selling by institutional investors over the last 13 weeks. Look for the rating to improve to at least a C or better.
In Q1, the oil company reported 84% EPS growth. Revenue growth fell to 24%, down from 32% in the previous quarter.
Halliburton stock holds the No. 3 rank among its peers in the Oil & Gas-Field Services industry group. Profrac Holding Crp Cl A is the No. 1-ranked stock within the group.
