Why Halliburton and Other Oil Stocks Rallied Today
Shares of oil and gas services firm (NYSE: HAL) rallied as much as 4.7% on Friday, before settling into a 3.4% gain as of 12:30 p.m. ET.
Halliburton is the third-largest oilfield services company in the world, so any time oil prices go up, it's a recipe for potential further investment by oil companies in exploration, completion, and production enhancement services.
So, it's no surprise that Halliburton was rising when oil prices spiked on Friday, following Israel's strike on OPEC+ country Iran.
Source Fool.com
Halliburton Co. Stock
€31.55
-2.440%
The stock is an absolute favorite of our community with 48 Buy predictions and no Sell predictions.
With a target price of 34 € there is a slightly positive potential of 7.77% for Halliburton Co. compared to the current price of 31.55 €.
