Barclays analyst J. David Anderson downgraded Halliburton to Equal Weight from Overweight and lowered his price target for the shares to $23 from $31. The analyst, who appreciates Halliburton's efforts to re-think its business by implementing a new returns-focused playbook for North America, sees "only modest upside" to the shares after revising his estimates lower. Few exploration and production companies have announced budgets for next year, but the focus on capital discipline and free cash flow "will only intensify," keeping the pressure on the U.S. onshore oilfield services market, Anderson tells investors in a research note.

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.