5 Most Promising Energy Stocks According to Analysts

2. Halliburton Company (NYSE:HAL)

Average Analyst Price Target Upside: 39.59%

Average Analyst Price Target: $50.00

Halliburton Company (NYSE:HAL) is a Texas-based company that provides several services to the oil and gas industry, including identification of hydrocarbons, management of geological data, drilling and formation evaluation, and more.

In the third quarter, the number of funds with a stake in Halliburton Company (NYSE:HAL)’s stock was 41, up from 39 in the previous quarter. The most significant stakeholder in the company was Richard S. Pzena’s Pzena Investment Management. The fund owned 3.568 million shares of Halliburton Company (NYSE:HAL) worth approximately $144.5 million.

Aristotle Atlantic Partners, LLC commented on Halliburton Company (NYSE:HAL) in its third quarter 2023 investor letter. Here is what it said:

“Halliburton Company (NYSE:HAL) contributed to outperformance in the quarter. The company continues to benefit from higher commodity prices, with both oil and natural gas prices increasing due to supply concerns, as well as improving supply-demand fundamentals in 2024. Investors are focusing on the upside growth benefits to the company in 2024, as North American oil and gas producers begin to increase rig counts, and international oil companies (IOCs) and national oil companies (NOCs) continue to increase their spending on mega projects. Halliburton should see a reacceleration in topline growth and improved margins as the result of the company’s focus over the last few years on higher-margin tools and technology offerings.”