Tranzactioneaza Halliburton Company (US.HAL) - 35.17 USD (%) Tranzactioneaza
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Oilfield services provider Halliburton (US.HAL) on Tuesday posted a nearly 41% rise in second-quarter adjusted profit compared to the first quarter, and predicted multiple years of growth in demand for drilling. Driven by high oil prices, the increase was in spite of a $344 million hit from the company winding down assets in Russia in response to its invasion of neighbouring Ukraine. 
Halliburton and other oilfield companies have benefited as oil prices have held above $100 a barrel , up 53% from the same quarter last year, and around 6% higher in the second quarter this year versus the first. 
Its North America revenue, which accounts for roughly half of its sales, was 26% higher, driven in part by an increase in hydraulic fracturing and other well-related services. 
halliburton profit jumps about 41 strong drilling demand 07 192022
âAt $100 oil, everything is busy,â said Jeff Miller, chief executive of Halliburton, one of the worldâs biggest oilfield services companies, whose profits jumped more than 50 per cent in the first quarter. But high prices have spurred renewed activity in US oilfields, largely driven by private operators. The rig count is up 20 per cent since the start of the year and nearly 60 per cent over the past 12 months, according to data from Baker Hughes, one of the oilfield services companies. 
Crude prices have surged past $100 a barrel in the wake of Moscowâs invasion of Ukraine, fuelling inflation around the world and setting off a frantic search for more supplies to help bring prices down.
CNBCâs Jim Cramer on Wednesday advised investors to buy Halliburton stock while itâs down after a less-than-ideal quarter from industry peer Baker Hughes. âI think youâve got to use this rare opportunity to buy a best-of-breed stock on weakness, which is exactly what we did for the Charitable Trustâ.
buy the dip on best of breed stock halliburton jim cramer says 2022