Analysts issue warning as longtime stock market powerhouse faces new challenges: 'Not the bargain it may appear to be'
Oil giant Halliburton has been facing significant stock drops over the last few months, according to Barchart.
As of March 19, Halliburton stock was down 8.1% in the year to date and down 33.7% over the previous 52 weeks. The company experienced a 13% drop in North American revenue in Q4.
Despite these dips, investors maintained a "moderate buy" status. American tariffs going into effect this week are causing stocks across the board to dive even further.
Halliburton is one of the biggest oil and gas companies in the world. It was the company behind the infamous Deepwater Horizon spill of 2010, but it has also dodged Environmental Protection Agency disclosures, was awarded a no-bid government contract via former U.S. Vice President Dick Cheney, chased down whistleblowers, and bribed Nigerian government officials.
Regardless of the company's ethics or environmental history, the oil and gas industry was already in a downward spiral before President Donald Trump's tariffs. Thanks to this downward trend, oil and gas giants are poorly equipped to handle the market turbulence ahead.
Meanwhile, American companies investing in green energy are ready to meet the needs of the future and are properly braced for impact. That future includes sustainable business practices that steer away from pollution and the catastrophes that pollution entails.
It's possible to invest responsibly to help propel green companies to success. This can help leverage market forces to achieve strong social good, but it requires diligence. When it works, the environment benefits, businesses thrive, and investors earn a profit.
Thanks in no small part to a cybersecurity breach that cost the company $35 million, some investors are downgrading their outlook for Halliburton. At least 13 analysts have lowered their forecasts recently.
"Despite Halliburton's prominent position in the oilfield services sector, its recent struggles make it a risky bet," Zacks Investment Research said in December. "Weak Q3 results, growing challenges in North America, international headwinds, and cybersecurity issues all point to a difficult road ahead. With declining earnings estimates and a Zacks Rank #4 (Sell), Halliburton stock is not the bargain it may appear to be. Investors would be wise to wait for clear signs of improvement before considering an entry."
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