Halliburton Company (HAL) shares surged 7.8% in the last trading session, closing at $31.92, fueled by strong trading volume. This uptick comes amidst optimism surrounding potential U.S. investment in Venezuela’s oil sector, spurred by former President Donald Trump’s call for U.S. oil companies to support rebuilding efforts in the oil-rich nation.
Additionally, Halliburton’s Chief Financial Officer, Eric Carre, purchased 37,548 shares on January 2, indicating investor confidence. The company is expected to report quarterly earnings of $0.54 per share, a 22.9% decline year-over-year, with revenues projected at $5.39 billion, down 3.9% from the previous year.
Currently, Halliburton holds a Zacks Rank of #3 (Hold), while competitor FMC Technologies (FTI) closed the last trading session at $48.29, up 2.1%. FTI anticipates an earnings report with an unchanged consensus estimate of $0.51 per share, reflecting a 5.6% decline year-over-year.
