After months of muted performance in the oilfield services sector, Halliburton (NYSE: HAL) is showing signs of a strong rebound.
The energy services giant has drawn renewed investor interest following fresh “Buy” ratings and optimism about a recovery in global drilling activity.
According to TS2.tech, analysts are calling Halliburton’s revival part of a broader resurgence among oil service firms that were “down but not out.”
Despite cost pressures and fluctuating oil prices, demand for drilling, well intervention, and completion services is rising across key markets — from North America to the Middle East.
On Monday, GuruFocus reported that Halliburton was initiated at a “Buy” rating with a $35 price target, suggesting a potential upside of more than 20% from current levels.
Analysts cited improved international margins, growing offshore demand, and strategic investments in digital oilfield technology as key growth drivers.
Meanwhile, competitor SLB (Schlumberger) also received a Buy rating from Rothschild & Co Redburn, signaling broader sector confidence.
Experts say the current rebound may still be in its early stages. “Energy services have lagged crude prices for most of 2024,” said an industry strategist quoted by TS2.
“But as exploration spending rebounds and drilling contracts expand, companies like Halliburton are well-positioned for a strong 2025.”
Halliburton’s stock has been gradually climbing in recent weeks, reflecting improving investor sentiment and speculation that the oil services cycle may be entering a recovery phase after several quarters of underperformance.
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