Halliburton Company (HAL) Stock Price & How to Invest

Halliburton is a global provider of products and services to the energy industry, helping operators locate, drill, evaluate, complete, and produce oil and gas wells. It runs two reporting segments: Completion and Production (cementing, stimulation and pressure pumping, sand control, artificial lift, and completion tools) and Drilling and Evaluation (drilling fluids, directional drilling, wireline, logging, and reservoir evaluation). North America, where Halliburton is the leader in hydraulic fracturing, has historically been its largest single market, though international revenue is now a majority of the mix.

The investment picture is fundamentally cyclical: demand rises and falls with customer capital budgets, which themselves move with oil and gas prices and macro sentiment. As of July 2026 the company is navigating a down year in North America (customer budget discipline and pricing pressure on fracturing) while leaning on international and offshore growth, digital technology (Halliburton 4.0), and its Zeus electric fracturing platform. It generates meaningful free cash flow, pays a modest dividend, and buys back stock, which appeals to investors who want energy-services exposure with capital returns.

Halliburton's results are highly cyclical and depend on customer drilling and completion budgets, which fall quickly when oil and gas prices weaken. North America pricing and utilization for fracturing are under pressure in 2026, and a broader oil-price pullback could deepen the activity decline. The company also carries geographic concentration risk in regions such as the Middle East and Latin America, exposure to geopolitical conflict and sanctions, and the long-term secular risk that the energy transition reduces upstream spending. As a share-loss and margin story, execution on international growth and pricing recovery is not guaranteed.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Halliburton Company's investor relations page or your broker.

• Revenue (TTM): ~$22 billion
• FY2025 net income: ~$1.28 billion
• Q1 2026 revenue: ~$5.4 billion (flat YoY)
• Market cap: ~$29 billion
• Forward P/E: ~15x
• Dividend yield: ~2%

As of July 2026, HAL trades around 15x forward earnings and roughly 8x EV/EBITDA, valuations that reflect a cyclical services business rather than a growth stock. Revenue was roughly flat in Q1 2026 at ~$5.4 billion, and full-year 2025 revenue was ~$22.2 billion, down modestly from 2024. Q1 2026 net income of ~$461 million more than doubled year over year on better operating leverage.

There are three common ways to get HAL exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so HAL sits alongside other stocks that express the same thesis.

Walnut takes the basket route. Describe a thesis where HAL fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

HAL is a cyclical, cash-generative bellwether of oilfield services whose story in 2026 hinges on international and offshore growth offsetting a softer North American market.

Whether HAL is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is HAL a buy?, and where the stock could go from here in the HAL stock forecast.

For income investors, whether HAL pays a dividend and how the payout looks is covered in does HAL pay a dividend?