HAL - Up 80% in 2022 Is This Soaring Energy Stock Still a Buy?
Oil services stocks have soared in 2022 and have been one of the few bright sparks in a declining stock market. With a whopping 80% rise in 2022, Halliburton (NYSE: HAL) has been one of the standout winners as oil has soared above $100 a barrel this year. Is now the time to join in buying into the stock or bail out? Here's what you need to know.
First things first, the near-term outlook is excellent. The price of oil is back above $100 a barrel, and following seven years of relative underinvestment (triggered by the slump in the price of oil in 2014), oil rig counts are on the rise again.
While still not at 2019 levels, rig counts are currently in an uptrend.
For further details see:
Up 80% in 2022, Is This Soaring Energy Stock Still a Buy?