New York, Jan 6, 2026, 15:25 EST — Regular session
- Halliburton shares fall 3.4% as broker downgrades cool a Venezuela-driven run-up
- Freedom Capital flags “euphoria” in U.S. oil-and-gas stocks as oil prices slip
- SEC filing shows EVP Lawrence J. Pope sold 100,000 shares under a pre-set plan
Halliburton shares fell 3.4% to $30.84 in afternoon trading on Tuesday after two brokerage downgrades, giving back part of the prior session’s surge. The stock has ranged between $32.48 and $30.64 on the day.
The move comes after oil-and-gas stocks jumped on Monday on investor optimism that Washington’s push to reshape Venezuela’s oil sector could open longer-term opportunities for U.S. companies. Oilfield services firms such as Halliburton rose with peers on expectations their equipment and crews would be needed if production ramps, even as analysts cautioned any recovery would take time. 1
Oil prices also turned lower on Tuesday as the market weighed expectations of ample supply in 2026 against uncertainty around Venezuelan output after Maduro’s capture. Brent fell 1.1% to $61.07 a barrel and U.S. West Texas Intermediate slid 1.4% to $57.53; “oil supply will be sufficient in 2026,” Tamas Varga, an analyst at PVM Oil, said. Traders are also watching U.S. inventory data, with the API due after 4:30 p.m. EST on Tuesday and official government figures due at 10:30 a.m. EST on Wednesday. 2
Evercore ISI downgraded Halliburton to “In Line,” a hold-equivalent rating, from “Outperform,” and raised its price target to $35 from $28. The firm said its positive view was now better reflected in the stock’s valuation and pointed to continued headwinds in “U.S. land,” or onshore shale activity, as a key pressure point. 3
Freedom Capital Markets cut Halliburton to “Sell” from “Hold” with a $32 price target, according to a report that named analyst Sergey Pigarev. In its note, the firm said “euphoria” in U.S. oil-and-gas stocks after the Venezuela headlines was “unjustified,” arguing the rally has come despite a “negative fundamental backdrop” that includes falling oil prices and an oversupplied market. 4
A regulatory filing also showed insider selling. EVP and Chief Administrative Officer Lawrence J. Pope sold 100,000 Halliburton shares on Jan. 5 at $32.25 under a Rule 10b5-1 plan — a pre-arranged trading program — adopted on Aug. 8, 2025, the Form 4 said. 5
Peers were steadier on Tuesday. SLB was down 0.2% while Baker Hughes was up 0.2%, underscoring that Halliburton’s move was larger than the group in the afternoon.
But the Venezuela trade remains headline-driven, and the timeline for any change in output — and knock-on demand for services — is uncertain. A further slide in crude prices can also curb upstream spending plans and weigh on well work, limiting near-term upside for the oilfield services group.
Halliburton’s next clear catalyst is its fourth-quarter 2025 results, due before the market opens on Jan. 21, followed by a conference call at 9:00 a.m. ET, the company said. Investors will focus on North America and international activity trends and any shift in spending and margin expectations. 6
