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Halliburton(HAL - Get Report) is one name that's been absent from our list of Rocket Stocks for a while. Shares of the oilfield service firm has been struggling for most of the year, held lower by charges related to the Macondo spill as well as oil prices that have tracked lower for much of the year. Despite those headwinds, most of the risks have worked their way out of this stock's outlook -- and more upside in Halliburton is coming into play as we approach 2013.
HAL helps oil companies pull crude out of the ground. The firm is involved in pressure pumping, drilling, and other services for sites in more than 80 countries. Even though oil prices have been tracking lower this year, they're still on the high side of their historic range. High oil means that a greater number of oil wells suddenly become economically viable, which drives demand for oil servicers such as Halliburton. That's unlikely to change in the near future.
At the end of the day, a number of macro factors point to oil prices remaining high, and since Halliburton built its business on doing the specialized tasks that its customers don't want to do, it should be able to sustain the growth pace that it's been on for the last few years. Even if this year hasn't been a blockbuster for the stock, it's on track to reverse course.
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