6 Best Geothermal Stocks To Invest In

4. Halliburton (NYSE:HAL)

Number of Hedge Fund Investors in Q2 2024: 41

Halliburton (NYSE:HAL) provides oil and gas equipment services and specializes in production enhancement and drilling solutions. The company provides services to major petroleum companies like Gazprom, Rosneft, Exxon Mobil, Shell, and TotalEnergies. Halliburton (NYSE:HAL) also provides fully integrated solutions by offering products, technology, and services for geothermal projects. The company supports all types of geothermal systems by providing solutions for underground analysis, building wells, completing them, and managing energy production.

On May 2, Halliburton (NYSE:HAL) introduced its GeoESP lifting pumps, a new submersible pump technology designed for geothermal energy applications to address fluid transport challenges by minimizing power consumption, resisting corrosion, and operating at extreme temperatures. The technology enhances geothermal operations with a focus on efficiency, safety, and durability. Additionally, Halliburton provides specialized liner hanger systems designed for geothermal wells, capable of withstanding high temperatures up to 650°F (343°C). These systems are tailored to meet different well construction needs, offering expandable liner hangers with 360° metal seals for complex operations, mechanical liner hangers for cementing support, and drop-off systems for simpler well-bottom cementing. Each solution is engineered to enhance well stability, streamline operations, and reduce costs, making them ideal for efficiently developing geothermal resources.

Halliburton’s (NYSE:HAL) stock is trading 8.78 times its earnings, which is an almost 21.74% discount compared to the sector median of 11.22. Analysts have a consensus Buy rating on the stock, with an average price target of $44.01 which indicates a potential almost 45% upside from current levels. As of the second quarter, the company’s stock is held by 41 hedge funds, with a total stake valued at $507.70 million. Point72 Asset Management is the largest shareholder in the company and owns shares worth $103.36 million as of June 30.