Oilfield services firm Halliburton Co. (NYSE: HAL) will report third-quarter results before markets open on Tuesday. Although the company’s share price has had some big swings over the past 12 months, the stock has doubled in that time.

Rising crude oil prices typically imply more drilling and that’s good news for Halliburton and its peers. It remains to be seen, however, if this time is going to be different. Many exploration and production companies have committed to returning capital to shareholders and that curbs their ability to drill more without piling on more debt. If a new wave of drilling does come about, it is unlikely to result in the number of new oil and gas wells that were drilled between late June of 2009 and October of 2011, when more than 1,000 new rigs began working.

Of 29 analysts covering the company, 18 rate the shares a Buy or Strong Buy and nine have Hold ratings on the stock. At a price of around $25.50, the upside potential based on a median price target of $27.50 is 7.8%. At the high target of $38, the implied gain is 49%.

Third-quarter revenue is forecast to come in at $3.91 billion, up 5.5% sequentially and 31.2% year over year. Adjusted EPS are forecast at $0.28, up 6.8% sequentially and 155% year over year. For full fiscal 2021, analysts are forecasting EPS of $1.05, up 61.3%, on sales of $15.14 billion, up 4.8%.

Halliburton stock trades at 23.4 times expected 2021 EPS, 15.2 times estimated 2022 earnings and 11.9 times estimated 2023 earnings. The stock’s 52-week range is $10.99 to $25.50, and the company pays an annual dividend of $0.18 (yield of 0.73%).

Johnson & Johnson

On Thursday, Johnson & Johnson (NYSE: JNJ) announced that a subsidiary it established to hold its liabilities related to billions in liabilities for its talc products was filing for Chapter 11 bankruptcy protection. According to the filing, Johnson & Johnson will set up a $2 billion fund to pay claims demanding as much as $10 billion in payments. The company has paid out some $3.5 billion in claims for the contaminated talc it was selling.

The company also expects the U.S. Food and Drug Administration on Friday to approve a booster shot for its COVID-19 vaccine. Its pharmaceuticals revenue rose by 17% in the second quarter due to the vaccine. The Dow company reports third-quarter results before markets open Tuesday.

Of 18 brokerages covering the company, 10 have Buy or Strong Buy ratings on the stock and the rest rate the shares at Hold. At a trading price of around $160.60, the upside potential based on a median price target is 16.4%. At the high target of $215, the upside potential is nearly 34%.

Third-quarter revenue is forecast at $23.74 billion, up 1.8% sequentially and up 12.6% year over year. Adjusted EPS are expected to come in at $2.36, down 5% sequentially and up 7.2% year over year. For full fiscal 2021, analysts are looking for EPS of $9.65, up 20.1%, on sales of $93.98 billion, up 13.8%.

Shares trade at 16.5 times expected 2021 EPS, 15.3 times estimated 2022 earnings and 14.4 times estimated 2023 earnings. The stock’s 52-week range is $133.65 to $179.92. The company pays an annual dividend of $4.24 (yield of 2.66%).