10 Best Geothermal Stocks to Buy According to Hedge Funds

6. Halliburton Company (NYSE:HAL)

Number of Hedge Fund Investors: 49

Halliburton Company (NYSE:HAL) is the largest oilfield service company in North America, based on market share, and one of the Best Geothermal Stocks. Despite industry fragmentation, it has a dominant position in the hydraulic fracturing and completions business, accounting for over half of its revenue. It also has significant positions in other service offerings, such as drilling and completion fluids, which benefit from its expertise in material science and the directional drilling industry.

Halliburton Company (NYSE:HAL) also offers fully integrated geothermal solutions, including products, technology, and services. The company operates all sorts of geothermal systems by providing solutions for underground analysis, well construction and completion, and energy production management. The firm introduced GeoESP lifting pumps in 2024, strengthening fluid transport in geothermal wells with low power consumption and strong temperature resistance. It also provides liner hanger systems that can withstand temperatures of up to 650°F (343°C), as well as expandable, mechanical, and drop-off solutions for optimal stability and efficiency. These technologies improve operations and reduce costs in geothermal development.

In 2024, Halliburton Company (NYSE:HAL) reported $3.9 billion in cash from operations and $2.6 billion in free cash flow, with shareholders receiving 60% of free cash flow through $1 billion in stock repurchases and $600 million in dividends. The business anticipates growth in drilling technology, unconventionals, well intervention, and artificial lift, resulting in an additional $2.5 billion to $3 billion in yearly revenue over the next three to five years.