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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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) 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), National Oilwell Varco (NOV) and Tidewater International (TDW) as potential investments as these names should benefit from higher oil prices. Brown said Willbros Group (WG) 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 This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs