5 Cheap Oil Stocks to Buy Today

1. Halliburton Company (NYSE:HAL)

Number Of Hedge Fund Holders: 47

Share Price as of July 28: $28.64

Halliburton Company (NYSE:HAL) is an American multinational corporation that operates as one of the largest oil field service companies, with operations in more than 70 countries. The company exceeded Street forecasts for Q2 EPS and revenue, reporting the largest quarterly profit in about four years as it sold almost the entire equipment inventory in the North American market.

JPMorgan analyst Arun Jayaram sees an attractive risk/reward on Halliburton Company (NYSE:HAL) into the Q2 print on July 5. He sees earnings upside in North America as well as “emerging optionality” to the company’s international footprint and lifted his Q2 and second half of 2022 estimates to reflect a positive view of pricing gains in recent months, while maintaining an Overweight rating on the company’s shares with a $50 price target.

According to the Q1 database of Insider Monkey, 47 hedge funds were bullish on Halliburton Company (NYSE:HAL), up from 43 funds in the earlier quarter. Richard S. Pzena’s Pzena Investment Management featured as the leading stakeholder of the company, with 22.7 million shares worth $862.2 million.

You can also take a look at This Analyst Is Bearish on These 15 Retail Stocks Amid “Soft Landing” Expectations and 10 Best Stocks For Inflation According to Redditors. 

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