Halliburton Company (HAL) : Traders are bullish on Halliburton Company (HAL) as it has outperformed the S&P 500 by a wide margin of 6.48% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.9%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.87% in the last 1 week, and is up 6.89% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Halliburton Company is up 15.01% in the last 3-month period. Year-to-Date the stock performance stands at 38.98%. The stock has recorded a 20-day Moving Average of 7.26% and the 50-Day Moving Average is 6.11%.
Halliburton Company (NYSE:HAL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $46.22 and $46.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $46.90. The buying momentum continued till the end and the stock did not give up its gains. It closed at $46.85, notching a gain of 0.84% for the day. The total traded volume was 8,841,171 . The stock had closed at $46.46 on the previous day.
Also, Atlantic Equities initiates coverage on Halliburton Company (NYSE:HAL). Atlantic Equities has a Underweight rating on the shares. The rating by the firm was issued on August 8, 2016.
Halliburton Company is a provider of services and products to the upstream oil and natural gas industry. The Company operates operate under two divisions, which form the basis for its two operating segments: the Completion and Production segment, and the Drilling and Evaluation segment. The Companys Completion and Production segment delivers cementing, stimulation, intervention, pressure control, specialty chemicals, artificial lift, and completion products and services. Production Enhancement services include stimulation services and sand control services. The Companys Drilling and Evaluation segment provides field and reservoir modeling, drilling, evaluation, and precise wellbore placement solutions. The Company conducts its business in approximately 80 countries.