What happened Shares of Halliburton (NYSE: HAL) rebounded 10.5% in June, according to data provided by S&P Global Market Intelligence. The main catalyst driving up the oil field services stock was a move by OPEC. So what Oilfield services stocks, including Halliburton, soared on June 5. Fueling shares was news that OPEC would hold back more supplies through the end of July by extending its historic market support agreement. Shares would continue rallying on that news, soaring more than 35% at one point. Image source: Getty Images. Halliburton would eventually give back some of those gains as optimism started to fade. However, the stock still managed to rally double digits on the month, roughly matching the rebound in WTI, the main U.S. oil price benchmark. That uptick in the price of crude oil has analysts starting to get slightly more bullish on Halliburton's prospects. Citi boosted its price target on the stock last month from $7.50 to $12 per share, though it kept its neutral rating. One factor driving that valuation bump is its outlook that Halliburton will earn more money next year on a quick snap back in drilling activities. Now what Shares of Halliburton bounced back last month on the view that the oil market will recover faster than many initially expected thanks to OPEC's intervention. However, the industry still has a long road ahead of it, especially since many oil companies have recently filed for bankruptcy, while many more are on the brink. Because of that, Halliburton shares could remain quite volatile since the recovery still faces many potential obstacles. 10 stocks we like better than HalliburtonWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Halliburton wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 2, 2020 Matthew DiLallo has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source