Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Halliburton moved deeper into drilling automation on April 1, 2026, when it announced the acquisition of Sekal AS from Sumitomo Corporation, bringing a specialist in digital drilling autonomy into its portfolio.</li><li>The transaction followed a period in which Halliburton had already been emphasizing technology-led differentiation, autonomous geosteering, LOGIX automation, and tighter collaboration with customers across international and North American markets.</li><li>Sekal adds a field-tested automation stack centered on its DrillTronics platform, with deployments in more than 1,300 wells worldwide, and management framed the combination as a way to lower well construction costs, improve recovery, and reduce operational risk.</li></ul>

Halliburton moved deeper into drilling automation on April 1, 2026, when it announced the acquisition of Sekal AS from Sumitomo Corporation, bringing a specialist in digital drilling autonomy into its portfolio.The transaction followed a period in which Halliburton had already been emphasizing technology-led differentiation, autonomous geosteering, LOGIX automation, and tighter collaboration with customers across international and North American markets.Sekal adds a field-tested automation stack centered on its DrillTronics platform, with deployments in more than 1,300 wells worldwide, and management framed the combination as a way to lower well construction costs, improve recovery, and reduce operational risk.

Halliburton’s Bold Sekal Takeover Might Change Oilfield Services Overnight!

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

iShares PHLX Semiconductor ETF / Technical Analysis

<ul>
<li>While the SPX remains bullish above 7580-7629 support, we're becoming near-term cautious on the Russell 2000 (IWM) and we remain near-term cautious on the Nasdaq 100 (QQQ) and A.I. areas.</li>
<li>As discussed last week, we believe the Aug4 and Aug12 gap fills suggest more consolidation is likely; not only have the odds increased that A.I. areas test their July lows... </li>
<li>...but the lower highs that have formed could be an early sign that they could break below their July lows in SOXX, CHAT, NCLD, DTCR, and EUV</li>
</ul>


While the SPX remains bullish above 7580-7629 support, we're becoming near-term cautious on the Russell 2000 (IWM) and we remain near-term cautious on the Nasdaq 100 (QQQ) and A.I. areas.
As discussed last week, we believe the Aug4 and Aug12 gap fills suggest more consolidation is likely; not only have the odds increased that A.I. areas test their July lows... 
...but the lower highs that have formed could be an early sign that they could break below their July lows in SOXX, CHAT, NCLD, DTCR, and EUV


Warning Signs; Buying Energy and Health Care; Still Cautious on QQQ and Now Also IWM

<ul><li>Halliburton Company reported its fourth-quarter 2025 financial results, demonstrating a mixed financial performance across its key business segments and geographic operations.</li><li>Total company revenue reached $22.2 billion for the year, with adjusted operating margins at 14%.</li><li>The international segment, although down 2% year-over-year, contributed $13.1 billion to the revenue, reflecting resilience despite declining rig counts, particularly in Saudi Arabia and Mexico.</li></ul>

Halliburton Company reported its fourth-quarter 2025 financial results, demonstrating a mixed financial performance across its key business segments and geographic operations.Total company revenue reached $22.2 billion for the year, with adjusted operating margins at 14%.The international segment, although down 2% year-over-year, contributed $13.1 billion to the revenue, reflecting resilience despite declining rig counts, particularly in Saudi Arabia and Mexico.

Halliburton: From Brazil to Vaca Muerta—A Game-Changing Growth Story in Latin America’s Next Energy Boom!

<ul><li>Halliburton Company reported its third-quarter 2025 financial results, reflecting both edges of volatility in the current global oil and gas market.</li><li>The company posted a revenue of $5.6 billion, a 2% increase from the previous quarter.</li><li>However, this performance is set against a slightly complex backdrop of contrasting conditions across North America and international markets.</li></ul>

Halliburton Company reported its third-quarter 2025 financial results, reflecting both edges of volatility in the current global oil and gas market.The company posted a revenue of $5.6 billion, a 2% increase from the previous quarter.However, this performance is set against a slightly complex backdrop of contrasting conditions across North America and international markets.

Halliburton Company: Expansion in International Drilling & Evaluation Services & Key Growth Levers!

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Halliburton’s strong Q3 earnings and strategic entry into the data-centre power market have fueled a sharp rally, underscoring investor confidence in its evolving growth strategy.</li>
<li>Halliburton’s partnership with VoltaGrid marks a strategic shift away from reliance on oil and gas and positions the company to tap into the rapidly expanding data-centre segment. </li>
<li>Halliburton’s strong performance sets a positive tone for upcoming oil and gas earnings, signalling resilient drilling activity, steady investment discipline, and higher margins and price realisations.</li>
</ul>


Halliburton’s strong Q3 earnings and strategic entry into the data-centre power market have fueled a sharp rally, underscoring investor confidence in its evolving growth strategy.
Halliburton’s partnership with VoltaGrid marks a strategic shift away from reliance on oil and gas and positions the company to tap into the rapidly expanding data-centre segment. 
Halliburton’s strong performance sets a positive tone for upcoming oil and gas earnings, signalling resilient drilling activity, steady investment discipline, and higher margins and price realisations.


Halliburton Lights the Way: A Strong Q3 Sparks Optimism Across the Oil Patch

United States

Halliburton Company provides energy services and engineering and construction services, as well as manufactures products for the energy industry.  The Company offers services and products and integrated solutions to customers in the exploration, development, and production of oil and natural gas.

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Halliburton Co (HAL US)

Halliburton’s Bold Sekal Takeover Might Change Oilfield Services Overnight!

Halliburton moved deeper into drilling automation on April 1, 2026, when it announced the acquisition of Sekal AS from Sumitomo Corporation,...

Baptista Research

Warning Signs; Buying Energy and Health Care; Still Cautious on QQQ and Now Also IWM

Warning Signs $RSP; Remain Overweight and Buy Energy $XLE and Health Care $XLV; Still Cautious on $QQQ and Now Also $IWM; Downgrading Utilities...

Vermilion Research

Halliburton: From Brazil to Vaca Muerta—A Game-Changing Growth Story in Latin America’s Next Energy Boom!

Halliburton Company reported its fourth-quarter 2025 financial results, demonstrating a mixed financial performance across its key business...

Baptista Research

Halliburton Company: Expansion in International Drilling & Evaluation Services & Key Growth Levers!

Halliburton Company reported its third-quarter 2025 financial results, reflecting both edges of volatility in the current global oil and gas...

Baptista Research

Halliburton Lights the Way: A Strong Q3 Sparks Optimism Across the Oil Patch

Halliburton's Q3 earnings and entry into the data-centre power market boost investor confidence in evolving growth strategy, signaling a shift...

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Halliburton’s Bold Sekal Takeover Might Change Oilfield Services Overnight!

Halliburton moved deeper into drilling automation on April 1, 2026, when it announced the acquisition of Sekal AS from Sumitomo Corporation,...

Baptista Research

Warning Signs; Buying Energy and Health Care; Still Cautious on QQQ and Now Also IWM

Warning Signs $RSP; Remain Overweight and Buy Energy $XLE and Health Care $XLV; Still Cautious on $QQQ and Now Also $IWM; Downgrading Utilities...

Vermilion Research

Halliburton: From Brazil to Vaca Muerta—A Game-Changing Growth Story in Latin America’s Next Energy Boom!

Halliburton Company reported its fourth-quarter 2025 financial results, demonstrating a mixed financial performance across its key business...

Baptista Research

Halliburton Company: Expansion in International Drilling & Evaluation Services & Key Growth Levers!

Halliburton Company reported its third-quarter 2025 financial results, reflecting both edges of volatility in the current global oil and gas...

Baptista Research

Halliburton Lights the Way: A Strong Q3 Sparks Optimism Across the Oil Patch

​Halliburton's Q3 earnings and entry into the data-centre power market boost investor confidence in evolving growth strategy, signaling a shift...

Mint Finance

Halliburton's Q3 earnings and entry into the data-centre power market boost investor confidence in evolving growth strategy, signaling a shift...