Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price37.13 USD
Fair value33.76
Ethical score80.5/100
RatingOPPORTUNITY
Our investment reviews on this name
2026-08-31Read Markup35.34+5.1% to today ✓
2026-08-01Read Distribution32.13+15.6% to today
2026-07-02Read Accumulation39.18-5.2% to today
Our analytic regime reads on this name, dated and marked against today's price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Halliburton holds its Markdown at $37.13. The statistical read favours the buyers, held for 19 days.
As held on the ledger · 2026-09-09
Phase
Markdown · caution
Quantitative state
The statistical read favours the buyers, held for 19 days
Price at the screen
$37.13
Valuation
19.44 trailing · 12.79 forward price to earnings
Values screen
PASS· score 80.5
Beta
0.77
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
32.52%
Below 33%
Interest-bearing debt is just 32.5% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
28.58%
Below 49%
Money owed to the company is 28.6% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Conscience Overlay
Conscience flag · BDS Movement
The quantitative screen above is arithmetic and this name passes it. Separately, community boycott lists cite this company: Cited by BDS movement for oilfield services and energy infrastructure support connected to Israeli energy operations in contested areas. The desk records that flag here without folding it into the verdict: the screen measures the balance sheet, the overlay informs the conscience, and they are different judgements that belong to different owners. The second one is yours.
What the Numbers Say It Is Worth
The Fair Value Range
Our framework reads OPPORTUNITY: it trades above our $33.76 fair value estimate, narrow competitive moat, 3.70% revenue growth.
Fair value range in USD, drawn from the 2026-09-09 screen. The gold marker is the market price at the same screen. The price runs 9.1% above the base estimate.
Third-party analyst targets: 25 covering, consensus Buy. The average target sits +16% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-09 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Oil services name flashes cheap but cycles bite
Picture a rig crew working flat out when crude prices spike. Halliburton rides those waves with a narrow moat, 15 percent return on equity and a forward multiple of just 12 times. Revenue sits flat and margins are only 7 percent, yet the shares trade right on our fair value line with an ethical screen cleared.
That low multiple draws attention in a sector where analysts see further upside. Still, a cyclical business showing zero top-line growth rarely offers a true bargain when earnings sit near their peak. The modest discount to our value does not change the pattern that has caught investors before.
Risk sits in the familiar energy trap where a low multiple signals fading demand rather than an overlooked gem. When the cycle turns, the narrow moat offers little protection and multiples can compress further.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
HAL trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-08-31Markup · changed$35.34+10.0%Entry 5
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 10.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 34% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 88%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (25 analysts) rates it buy, with a mean price target of $44.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 18.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 34% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 88%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (25 analysts) rates it buy, with a mean price target of $44.
2026-07-18Accumulation$39.18+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 34% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 88%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (25 analysts) rates it buy, with a mean price target of $44.
2026-07-03Accumulation$39.18+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Accumulation$39.18Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
