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Halliburton Co HAL

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

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Economic Moat

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Capital Allocation

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Halliburton Reports Improved Q1 Results on North America Activity Improvement

Preston Caldwell Equity Analyst

Analyst Note

| Preston Caldwell |

Halliburton reported improved first-quarter results, with revenue increased 7% sequentially. North America revenue increased 13% sequentially on the back of large increases in U.S. land activity. International revenue increased 2%, in contrast to the usual seasonal decline. By segment, D&E led the way (up 11%), while C&P was up just 3%. Our fair value and narrow moat rating are unchanged following the results.

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Company Profile

Business Description

Halliburton is the world's second- largest oilfield-services company. Building from its origins pioneering oil and gas well cementing in the 1920s, Halliburton has evolved into the premier wellbore engineering company, with leading business lines in cementing, completion equipment, and pressure pumping. It added drilling services as a second key area of focus via its 1998 acquisition of Dresser and today stands second only to industry leader Schlumberger. Owing to its strategic bet on U.S. shale starting nearly two decades ago, Halliburton has played an unparalleled role in facilitating the shale revolution.

Contact
3000 North Sam Houston Parkway East
Houston, TX, 77032
T +1 281 871-2699
Sector Energy
Industry Oil & Gas Equipment & Services
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Distressed
Employees 40,000

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