NEW YORK (TheStreet) --Shares of Halliburton Co. (HAL) are falling by 11.11% to $42.08 on Friday afternoon, as oil and energy stocks retreat as a result of the Organization of the Petroleum Exporting Countries' decision not to cut oil production.
In the wake of OPEC's decision oil prices are down 6.5%, sending stocks lower.
On Friday Brent crude traded close to $73 a barrel following a new four year low, Reuters reported.
While energy stocks drop, shares of airlines like Delta (DAL) , up 5.11% to $46.50, are gaining as airline stocks are inversely associated to oil prices due to fuel costs, Reuters noted.
Retailers like Macy's (M) , higher by 2.25% to $64.96, are also getting a boost as Reuters speculates that lower gas prices could result in a rise in consumer spending.
Separately, TheStreet Ratings team rates HALLIBURTON CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HALLIBURTON CO (HAL) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, attractive valuation levels, impressive record of earnings per share growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
You can view the full analysis from the report here: HAL Ratings Report