5 Most Promising Energy Stocks to Buy Now

4. Halliburton Company (NYSE:HAL)

Upside Potential as of July 7: 36.72%

Halliburton Company (NYSE:HAL) is one of the largest providers of products and services to the energy industry in the world.

On July 2, UBS slightly upped its price estimate on Halliburton Company (NYSE:HAL) from $39 to $40, while reiterating a ‘Neutral’ rating on the shares. The target boost reflects an upside of over 21% from the current price level.

In another notable development, it was reported on July 6 that Halliburton has signed an agreement with the Iraqi government to develop the Bin Umar and Sindbad oil fields in Basra governorate in the country’s south.

The output at Bin Umar is expected to rise to 150,000 barrels of oil per day (bopd) over the next five years, with associated gas production targeted at 300 million standard cubic feet per day (MMscf/d). Similarly, the crude production at Sindbad is targeted to surge by 80,000 to 100,000 bopd over the same period, with associated gas production targeted at 240 to 260 MMscf/d.