Is Halliburton Company (NYSE:HAL) a buy in 2026?
Hold. Halliburton Company is a wait-and-watch at today's price, not a fresh buy.
Halliburton's cheap valuation reflects a real problem: North American activity is stalling just as international growth decelerates.
Where HAL is headed
Halliburton sits at $38 and trades at 14x forward earnings — optically cheap for a company that generated $2.1 billion in free cash flow over the trailing twelve months. But optically cheap and actually cheap are different things, and the gap between the trailing P/E of 21x and the forward P/E of 14x tells you the market is pricing in an earnings inflection that hasn't actually arrived yet. Revenue grew 0.8% last year. The company's own press release framed North America as being in the 'early innings of a recovery,' which is CEO-speak for 'it's not recovering yet.' Management tone was cautious, confidence scored 58 out of 100, and guidance was tempered. That's not the profile of a company about to rip higher.
Read the full Compass Direction on HAL
The complete destination call, the overlooked angle, milestones, and bull, base, and bear price scenarios (around $39.62).
See the full HAL analysisGet calls like this, free
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Frequently asked questions
Is Halliburton Company (NYSE:HAL) a buy in 2026?
Hold. Halliburton Company is a wait-and-watch at today's price, not a fresh buy. Halliburton's cheap valuation reflects a real problem: North American activity is stalling just as international growth decelerates.
What is HAL's Compass Score?
Halliburton Company scores 46/100 on Alexandria's Compass, placing it in the "Neutral" tier. Scores blend eight factors and update weekly.
What is the price target for HAL?
Alexandria's full Compass Direction includes bull, base, and bear price scenarios with the valuation math behind each. Read the full breakdown on the HAL page.
Compass verdicts are AI-generated, forward-looking editorial research from publicly available data, not investment advice or a recommendation regarding any security. Scores and verdicts update as the data changes.