Halliburton, a top-five stock in its industry, is near completing a cup base. The oil field services and products giant recently put up some dazzling profit and sales numbers. On Thursday the Relative Strength Rating for Halliburton stock rose from 68 to 71.
The upgraded 71 Relative Strength Rating shows that Halliburton outperformed 71% of all stocks over the past year. It's a welcome improvement.
Halliburton Stock Ratings Shine
Halliburton stock has an 87 Composite Rating, out of 99, reflecting overall strength.
Houston-based Halliburton has a standout 92 Earnings Per Share Rating. It also boasts a B+ Accumulation/Distribution Rating, on an A+ to E scale, showing that big funds are avid buyers of its stock.
Additionally, reflecting strong fundamentals, it owns a best-possible A SMR Rating (sales + profit margins + return on equity).
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There has been a recent shift in the auto market away from purely electric vehicles to hybrid vehicles and traditional gas-engine vehicles. That trend, combined with renewed driving in the wake of the pandemic, is supporting the oil and gas industry. Halliburton stock has climbed about 865% from a Covid crash low 4.25 in late March 2020 to near 41 Thursday afternoon.
Halliburton stock is working on a cup-without-handle base with a 43.85 buy point. See if the stock can break out in volume at least 40% higher than normal.
Fundamentals Sound, Although They Tapered Down
Halliburton recorded a 19% increase in earnings to 86 cents a share last quarter on a slim 3% increase in revenue to $5.74 billion. The gains were the smallest in four quarters. The prior three stanzas it reported 106% EPS growth, then 57% and 32%. Revenue grew 33%, 14% and 8% during that period.
Look for a return to rising EPS and revenue growth rates this quarter. The company says on its website it will hold a news conference to discuss first quarter results the morning of April 23.
Halliburton stock holds the No. 4 rank among its peers in the 29-stock Oil & Gas-Field Services industry group. Tidewater is the top-ranked stock in the group.
Please follow James DeTar on X, formerly known as Twitter, @JimDeTar
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