Jim Cramer’s Latest Lightning Round: 12 Stocks to Watch

6. Halliburton Company (NYSE:HAL)

Number of Hedge Fund Holders: 41

While Cramer called Halliburton Company (NYSE:HAL) a great company, he wishes to keep his distance from it.

“Alright, no I, don’t wanna own [it]… I wanna stay away from Halliburton. That’s too bad, it’s a really great company.”

Halliburton (NYSE:HAL) offers a range of products and services for the global energy sector, including services focused on production enhancement, cementing solutions, and comprehensive drilling support. Recently, the company disclosed a cybersecurity incident that came to light on August 21, where unauthorized access to certain systems occurred. The company acknowledged that this breach caused disruptions and limited access to various business applications essential for its operations. Although the attacker managed to extract information from its systems, the company is actively assessing the scope of the breach and determining the necessary notifications.

While the company has incurred expenses related to responding to this incident, it stated that the attack has not materially impacted its financial position or operational results. Nonetheless, it remains aware of the risks associated with such cybersecurity threats. Currently, it is evaluating the specifics of the information that was accessed and is cautious about any potential long-term implications.

On October 14, BofA lowered the price target on Halliburton (NYSE:HAL) to $38 from $40 and maintained a Buy rating in light of the broader market conditions. The analyst informed investors that a slowdown in global oil demand growth, coupled with an oversupply, is likely to create difficulties in 2025 for oil prices and stock selection in the Oilfield Services sector. The firm suggests that the present outlook for global oil supply and demand requires U.S. land oil production to stabilize rapidly, and the analyst has adjusted price targets downward by an average of 6% across the industry.