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A Look at Halliburton’s 1-Week Returns on May 11

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May. 14 2018, Published 2:04 p.m. ET

Halliburton’s stock price compared with the industry

Halliburton’s (HAL) one-week stock price was 0.2% higher on May 11 over May 4. Since May 4, the Energy Select Sector SPDR ETF (XLE), which represents the broader energy industry, increased ~4.0%. The VanEck Vectors Oil Services ETF (OIH) saw a 3.1% one-week return. OIH tracks an index of 25 oilfield equipment and services (or OFS) companies. So, HAL has underperformed XLE and OIH in the past week.

Since May 4, the SPDR S&P 500 ETF (SPY) has outperformed Halliburton, which comprises 0.20% of SPY’s portfolio. SPY returned 2.6% during this period.

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Crude oil’s price and rigs

The West Texas Intermediate (or WTI) crude oil price increased 1.4% on May 11, compared to its price on May 4. Led by the strength of crude oil’s price, the US rig count increased by 13 to 1,045 in the week ended May 11, compared to the previous week. You can learn more about crude oil price’s recent drivers in Market Realist’s Are Oil-Weighted Stocks Inversely Related to Oil Prices?

Halliburton’s key drivers in 1Q18 include:

  • increased pressure pumping, drilling, and artificial lift activity in the US onshore sector
  • increased drilling activity and pressure pumping services in the eastern hemisphere
  • higher drilling and stimulation activity in the Middle East
  • reduced drilling activity in Latin America

Series highlights

In this series, we’ll look at Halliburton’s implied volatility and its correlation with crude oil. We’ll discuss Halliburton’s stock price forecast next.

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