Oil and gas company Halliburton’s (HAL) shares have rallied with rising oil prices over the past few months. This period has seen several contract awards for the company. But the question is, is it wise to bet on the stock now even though the company’s third-quarter revenue fell short of analysts’ expectations? Let’s discuss.Halliburton Company (NYSE:) in Houston, Tex., is one of the world’s largest providers of products and services to the energy industry. The company has enjoyed success due to rising oil prices and higher cementing activity throughout the Middle East/Asia area, as well as increased well intervention services across Europe/Africa/CIS. Additionally, the company’s drilling-related services are improving.

The stock has gained 13.5% in price over the past month to close yesterday’s trading session at $25.12. It is trading at $26.75 per share, 6.1% lower than its 52-week peak of $26.75, reached on October 25, 2021. According to Refinitiv IBES, even though HAL’s third-quarter profit was in line with analysts’ estimates, its $3.86 billion in revenue was slightly below consensus expectations of $3.91 billion.

In April 2021, U.S. Well Services, Inc. filed a lawsuit against HAL claiming that HAL had infringed the patents on electric fracking. Murry Gerber (a member of HAL’s board) sold 44,590 shares in the last month. So, the stock’s near-term prospects look uncertain.

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