5 Best Affordable Stocks to Buy Now

3. Halliburton Company (NYSE:HAL)

Price As of August 3: $28.43

Halliburton Company (NYSE:HAL) is a global oil and gas equipment company specializing in hydraulic fracturing operations. According to the Insider Monkey database, the firm was part of 47 hedge fund portfolios in the first quarter of 2022, compared to 43 in the previous quarter.

For the second quarter of 2022, Halliburton Company (NYSE:HAL) reported an EPS of $0.49, compared to $0.44 estimates. The revenue of $5.07 billion represented a 36.88% YoY growth and outperformed the estimates by $368.54 million. Moreover, the company recorded $215 million in free cash flow for the second quarter. The company has also reduced its debt by $600 million since the beginning of the year.

On July 15, Bank of America revised ratings and price targets for several oil and gas companies including Halliburton Company (NYSE:HAL). BofA sees a positive outlook for the international market and believes that it is set for accelerated growth in the second half of 2022 and 2023. For Halliburton Company (NYSE:HAL), BofA maintained a Buy rating on the stock and slashed the price target to $34 from $47.

As of July 2, Halliburton Company (NYSE:HAL) has a dividend yield of 1.64% with an annualized dividend payout of $0.48. The last quarterly dividend was valued at $0.12 per share and was paid out on June 22.