This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Energy Winners and Losers: Halliburton

Shares of oilfield services companies rose along with the price of oil on Friday, just days before companies in the sector begin to post their second-quarter earnings results.

Benchmark crude for August delivery extended its rally into a third straight day, rising $1.39, or 2.2%, to $64.46.

Halliburton (HAL - Get Report) and Weatherford International (WFT) are scheduled to report earnings on Monday and BJ Services (BJS) plans to report on Tuesday.

Pritchard Capital Partners analyst Mark Brown said that investor skepticism is high now, and initial dismal second-quarter results -- driven by oversupply, demand weakness and rig count declines -- could prompt an initial selloff.

This could lead to a possible bottoming pattern in early August, at the midpoint of earnings season, presenting a good entry point, he said.

With time, Brown noted, "investors, having fully digested the results, may come to the conclusion that the quarter wasn't as bad as the worse that was feared."

"When all is said and done in about four weeks, we believe more companies will actually exceed expectations than not."

Brown rated Weatherford "Buy," with an earnings estimate of 17 cents per share, a penny above analyst expectations. He also nodded toward Schlumberger (SLB - Get Report), National Oilwell Varco (NOV - Get Report) and Tidewater International (TDW - Get Report) as potential investments as these names should benefit from higher oil prices. Brown said Willbros Group (WG - Get Report) will likely see a significant 2010 demand pick up.

Shares of Schlumberger rose 53 cents to close at $56.01. National Oilwell Varco gained 33 cents to $34.16. Tidewater shares added 44 cents to $46.31. Willbros Group shares slipped 8 cents to $13.07.

Halliburton shares lost 15 cents to $21.38. Shares of BJ Services rose 14 cents to $14.44.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
HAL $41.31 0.00%
NOV $36.04 0.00%
SLB $80.34 0.00%
TDW $8.76 0.00%
WG $3.20 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs