10 Oversold Large Cap Stocks To Buy Now

4. Halliburton Company (NYSE:HAL)

Market Cap: $25.55 billion

FWD PE Ratio: 9.31 

YTD Share Price Decline: ~20%

Number of Hedge Fund Holders: 41

Halliburton Company (NYSE:HAL) provides products and services to the energy industry and operates in over 70 countries. It was founded in 1919 and since then, it has grown to become one of the largest oilfield services providers globally.

It offers a range of services, from energy exploration and drilling to reservoir management and production optimization. It is renowned for its technological advancements in hydraulic fracturing (fracking) and energy solutions and plays a significant role in major global oil and gas operations.

Halliburton (NYSE:HAL) is quite favored by analysts as it has been covered by 31 analysts with an average price target of $40. The price target represents an upside of approximately 38.5% from current levels on October 17.

On September 26, TipRanks reported that analyst Pei Hwa Ho from DBS maintained a Buy rating on Halliburton (NYSE:HAL) with a price target of $45.00. The price target is based on the company’s focus on digital technologies and automation, which have improved service efficiency, reduced costs, and lowered its carbon footprint. Innovations like the iCruise system and Zeus Electric Fracturing System have improved the company’s operational and financial performance and have positioned it ahead of competitors.

Collaborations with Wintershall Dea and AIQ further show the company’s commitment to technological leadership.

Moreover, Halliburton’s (NYSE:HAL) strategy of returning over 50% of free cash flow to shareholders, along with the stock’s attractive valuation after recent price declines, also contributed to the recommendation.