Wells Fargo on Wednesday upgraded Halliburton (HAL) to the equivalent of a buy rating from hold, authoring a favorable investment case that closely aligns with the Club’s rationale for owning the oilfield services company. In addition to the bullish rating adjustment, analysts at Wells Fargo also raised their price target on Halliburton shares to $52 from $33, a nearly 49% upside from where the stock closed Tuesday. Halliburton’s stock price surged roughly 5% on Wednesday, to nearly $37 a share. “Macroeconomic headwinds may persist, but energy security and overall global oil & gas supply challenges…have created a sustained undersupply situation, which should sustain commodity prices and upstream investment,” the analysts wrote in a research note Wednesday. West Texas Intermediate (WTI) crude — the U.S. oil benchmark — climbed nearly 3% Wednesday, to $88 a barrel. The Wells Fargo note came on the heels of Halliburton reporting better-than-expected third-quarter results on Tuesday. “Against tight supply, demand for oil and gas is strong and we believe it will remain so,” CEO Jeff Miller said. “While broader market volatility is clear, what we see in our business is strong and growing demand for equipment and services,” he added. The Club stuck with the stock through turbulent summer months because we continue to expect tight oil-market conditions to lead to increased drilling activity in the coming years, benefiting companies like Halliburton. Miller on Tuesday also noted there is little spare capacity for oil drilling equipment, enabling Halliburton to charge more for its services while demand holds up. That’s something Wells Fargo also referenced, contending it should result in higher margins at Halliburton and other energy services firms. Big picture After falling more than 26% in the third quarter, crude prices have staged a strong recovery this quarter on the back of an agreement by the Organization of Petroleum Exporting Countries and its allies, collectively known as OPEC+, to cut production by 2 million barrels a day from next month. WTI has rebounded by more than 10% since the start of October. The turning tide for oil prices has helped support stock prices across the industry. Energy has been the best-performing sector in the S & P 500 in October by a wide margin, advancing more than 23% month-to-date. Halliburton’s robust third quarter — and Wells Fargo’s subsequent upgrade Wednesday — come as the Club’s other energy holdings are set to report quarterly results in the coming days. Pioneer Natural Resources (PXD) reports Thursday after the bell. Devon Energy (DVN) and Coterra Energy (CTRA) are scheduled to follow next week, reporting after the close on Nov. 1 and Nov. 3, respectively. The Club take We think Wells Fargo’s upgrade of Halliburton is well-reasoned, highlighting why we’ve maintained our position in the company despite the stock’s rollercoaster ride since we first invested in March . We see the long-term need for oil drilling to reverse years of structural underinvestment on the supply side. And the tight equipment market means Halliburton has a significant amount of pricing power — something all investors should appreciate in this inflationary environment. Moreover, Halliburton’s efforts to significantly reduce its cost structure during the height of the Covid-19 pandemic mean it’s on course to further expand operating margins. More broadly, while our discipline required us to trim some energy exposure around the OPEC+ announcement, we’ve otherwise held steady with our oil holdings in recent weeks during the sector’s rally. Indeed, our energy positions help us hedge against inflation. And for the likes of Pioneer, Devon and Coterra, sizable cash returns through dividends and buybacks sweeten the investment case. (Jim Cramer’s Charitable Trust is long HAL, PXD, DVN and CTRA. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Signage is displayed outside a Halliburton Co. location in Port Fourchon, Louisiana, U.S.
Luke Sharett | Bloomberg | Getty Images
Wells Fargo on Wednesday upgraded Halliburton (HAL) to the equivalent of a buy rating from hold, authoring a favorable investment case that closely aligns with the Club’s rationale for owning the oilfield services company.
Rivian has posted a job listing for a steering engineer, specifically mentioning work on a future steer-by-wire system for the company.
Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.
There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.
Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).
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But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.
But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).
But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).
And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear.
So – we know they’re working on steer by wire, to some extent.
But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.
So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.
We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…
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Hyundai’s electric sports car just got a whole lot cheaper. The 2025 Hyundai IONIQ 5 N now costs $150 less per month to lease after another unexpected price cut.
How much is it to lease the 2025 Hyundai IONIQ 5 N?
The new and improved 2025 IONIQ 5 is coming off its best US sales month yet in July, but that isn’t stopping Hyundai from wanting more.
After Hyundai cut lease prices on all trims last month to as low as $179 per month, it’s now offering even more savings.
The 2025 Hyundai IONIQ 5 N is now listed for lease at just $549 per month. The offer is for 36 months, with $3,999 due at signing. At an effective monthly rate of $660, Hyundai’s EV is $150 cheaper a month than it was in July.
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Hyundai is currently offering some of the best deals on electric cars, with the 2025 IONIQ 5 SE Standard Range listed for lease at just $179 per month.
2025 Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)
The Standard Range model has a driving range of 245 miles. If you’re looking for more, the Extended Range SE, with a range of 318 miles, is available to lease from $199 per month.
You can even lease the rugged new XRT trim right now for under $300 a month. All deals are for 24 months with $3,999 due at signing and end on September 2
2025 Hyundai IONIQ 5 Trim
EV Powertrain
Driving Range (miles)
Starting Price*
Monthly lease price July 2025
IONIQ 5 SE RWD Standard Range
168-horsepower rear motor
245
$42,500
$179
IONIQ 5 SE RWD
225-horsepower rear motor
318
$46,550
$199
IONIQ 5 SEL RWD
225-horsepower rear motor
318
$49,500
$209
IONIQ 5 Limited RWD
225-horsepower rear motor
318
$54,200
$309
IONIQ 5 SE Dual Motor AWD
320-horsepower dual motor
290
$50,050
$249
IONIQ 5 SEL Dual Motor AWD
320-horsepower dual motor
290
$53,000
$259
IONIQ 5 XRT Dual Motor AWD
320 horsepower dual motor
259
$55,400
$359
IONIQ 5 Limited Dual Motor AWD
320-horsepower dual motor
269
$58,100
$299
IONIQ 5 N Dual Motor AWD
Up to 601-horsepower dual motor
221
$66,200
$549
2025 Hyundai IONIQ 5 price, range, and lease price
With the $7,500 EV tax set to expire at the end of September, Hyundai is offering savings across its entire electric car lineup.
Even Hyundai’s new three-row electric SUV is surprisingly affordable. The 2026 INIQ 9 is listed with monthly lease prices as low as $419 per month.
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Elon Musk getting a sweet $26 billion payday from Tesla while the company gets flooded with lawsuits and Dojo is dead.
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