3. Halliburton (HAL) provides services related to exploration and production of oil and natural gas.
Net income for the first quarter of 2011 more than doubled to $511 million, compared to $206 million in the corresponding quarter of the prior year. Strong North American performance churned robust top-line growth during 1Q11. Consolidated revenue increased to $5.3 billion from $3.8 billion in the year-ago quarter.
Delineating the future strategies, Dave Lesar, chairman, president and CEO of Halliburton, said in a press statement, "We continue to commercialize core technologies, win key contracts, and make the necessary investments to ensure that we gain momentum as the industry enters the projected up cycle. We remain focused on global growth markets including deepwater, unconventional resources, and mature fields. We have made progress on this strategy, as evidenced by a number of recent contract awards."Of the 37 analysts covering the stock, 33 recommend a buy. Analysts are positive on the stock and expect it to deliver 27% in the next one year. The stock is trading at 15.8 times its estimated 2011 earnings.
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