Halliburton Company is on its own playing field, but should you buy HAL stock yet?

- May 13, 2017

With crude oil prices at an 18-month high earlier this year, and overall sentiment for oil stocks turning higher, our very own petroleum engineer and oil & gas expert warned BNL Members not to get trapped into believing these were stocks to buy. He explained in mid-January that nothing in the oil & gas space was a buy at that moment, but long-term, Halliburton Company (NYSE:HAL) would prove to be the best, as would HAL stock when the market recovered. Here are a few other things our petroleum engineer said four months ago:

  • Nat gas prices had peaked at $3.40, and would not see sustainable pricing above $3.50. Today, nat gas prices are still right at $3.40.
  • Oil stocks would fall
  • Oil prices had peaked for the time being near $55. Crude is now under $48.
  • Halliburton, Schlumberger, & Pioneer Natural Resources are top plays, but not yet stocks to buy. HAL stock is down roughly 20% since that January article.

With these things considered, and given how oil stocks have fallen, I asked if Halliburton Company (NYSE:HAL) was a better investment than Baker Hughes Incorporated (NYSE:BHI). Furthermore, I asked if HAL stock is now a good investment after its 20% decline.

Is HAL stock a good buy, and better than Baker Hughes?

The following comments were made by our petroleum engineer, who is a BNL Member, in the member Live Chat section of members only. It has been edited for readability and syntax.

I hope we stay out of oil stocks for a while. We may get a nice pop here and there, but long term gains have not kicked in.

Halliburton and Baker Hughes were the two major service companies in my basin. Baker Hughes Incorporated (NYSE:BHI) shut down their offices and left. Laid off about 250 people. Great hands, with a lot of experience and knowledge. Halliburton Company (NYSE:HAL) did too during the down turn, but did not shut down their offices. Now they have put together a 3-4 frac crew in my area. So I am thinking Halliburton Company (NYSE:HAL) has a better business outlook/plan now vs Baker Hughes Incorporated (NYSE:BHI). I don’t know what they (Baker Hughes) are thinking, let go of an entire basin’s operations after building a customer base and trust over the years?

I think HAL stock is the best among the bunch. They are raising or keeping prices steady, not really cutting down and are also winning the market share from Baker Hughes. So in the long run, when I look for Major Oil field service company, HAL stock will be my first choice.
But is it a buy right now?
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    Halliburton Company is on its own playing field, but should you buy HAL stock yet?

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    Halliburton Company is on its own playing field, but should you buy HAL stock yet?

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