Halliburton (HAL) Stock Trading Higher Amid Rising Oil Prices

NEW YORK (TheStreet) -- Shares of Halliburton Co (HAL) are higher by 0.79% to $44.46 Tuesday afternoon, as oil prices trade in the green to give energy related stocks a boost.

WTI crude for August delivery was trading up 1.29% to $61.16 a barrel as of 3:19 p.m. ET, while Brent crude for August delivery was similarly up 1.91% to $64.55 a barrel.

Oil prices gained ahead of U.S. inventory data expected to show strong demand for gasoline, according to Reuters. 

Houston, Texas-based Halliburton is an oilfield services company that provides services and products to the energy industry related to the exploration, development, and production of oil and natural gas. It serves national and independent oil and natural gas companies worldwide and operates under two segments.

Separately, TheStreet Ratings team rates HALLIBURTON CO as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate HALLIBURTON CO (HAL) a HOLD. The primary factors that have impacted our rating are mixed, some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins."

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