RBC Capital analyst Kurt Hallead lowered his price target on Halliburton to $56 to reflect the U.S. frac market headwinds anticipated over the next 3 to 6 months. The analyst keeps his Outperform rating longer term however, stating that the company is "very well positioned to benefit from the resumption in US frac activity" and some improvement in its international market. Hallead also expects Halliburton to prioritize dividend and buybacks over debt reduction.

Unusual total active option classes on open include: ImmunityBio (IBRX), Halliburton (HAL), Redfin (RDFN), Nokia (NOK), Matterport (MTTR), General Motors (GM), UPS (UPS), Philip Morris (PM), PepsiCo (PEP), and General Electric (GE).

Reports Q1 revenue $5.8B, consensus $5.67B. "Halliburton delivered solid first quarter results that again demonstrated the power of our strategy and the strength of our execution. Activity in North America recovered from fourth-quarter lows, and our international business delivered its 11th consecutive quarter of year-on-year growth," commented Jeff Miller, Chairman, President and CEO. "Our customers' multi-year activity plans across markets and asset types confirms my confidence in the strength and duration of this upcycle. Halliburton demonstrated its commitment to shareholder returns in the first quarter and repurchased $250 million of common stock - a solid start to the year and a good benchmark for our expectations going forward," concluded Miller.