Long Position on HAL @ $21.00 on 3/25/2021 (Momentum)

Halliburton Company (HAL) provides a range of services and products to oil and natural gas companies worldwide.

The company's Completion and Production segment offers production enhancement services, including stimulation and sand control services; and cementing services, such as well bonding and casing, as well as provides casing equipment.

It also provides completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, liner hanger and sand control systems, and service tools; production solutions comprising coiled tubing, hydraulic workover units, downhole tools, pumping services, and nitrogen services; and pipeline and process services, such as pre-commissioning, commissioning, maintenance, and decommissioning. In addition, this segment offers electrical submersible pumps, as well as artificial lift services.

The company's Drilling and Evaluation segment provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; oilfield completion, production, and downstream water and process treatment chemicals and services; and drilling systems and services.

It also offers wireline and perforating services, including open-hole logging, and cased-hole and slickline; and drill bits and services comprising roller cone rock bits, fixed cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment and services.

In addition, this segment provides cloud based digital services and artificial intelligence solutions on an open architecture for subsurface insights, integrated well construction, and reservoir and production management; testing and subsea services, such as acquisition and analysis of reservoir information and optimization solutions; and project management and integrated asset management services.

With the announcement that the Suez Cannal will be blocked, higher prices on nearly all goods could be on the rise, meaning that a rise in shipping and gas prices should be reflected in the market soon. This would likely push demand for HAL and its share prices higher with its increase demand.

Entry Point: $21.00

Trading Range: $6.03 - $24.74

Stop Loss: $19.95

Target Price: $23.00

Updates

5/14/2021 12:27:14 PM

HAL closed at $23

Position closed on 5/14/2021 at price of $23.00 with a 9.52% gain in 50 days.

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