Deutsche Bank AG Acquires New Holdings in Halliburton Company $HAL

Deutsche Bank AG purchased a new position in Halliburton Company (NYSE:HAL) in the second quarter, HoldingsChannel reports. The firm purchased 3,049,011 shares of the oilfield services company’s stock, valued at approximately $103,514,000.

A number of other institutional investors also recently made changes to their positions in HAL. Capital Research Global Investors lifted its position in Halliburton by 21.1% in the fourth quarter. Capital Research Global Investors now owns 110,220,971 shares of the oilfield services company’s stock worth $3,114,848,000 after purchasing an additional 19,190,520 shares during the period. State Street Corp boosted its stake in Halliburton by 1.7% during the 4th quarter. State Street Corp now owns 50,825,761 shares of the oilfield services company’s stock valued at $1,436,336,000 after purchasing an additional 861,964 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Halliburton by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 31,097,164 shares of the oilfield services company’s stock valued at $878,806,000 after purchasing an additional 443,064 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in shares of Halliburton by 82,596.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 29,771,388 shares of the oilfield services company’s stock valued at $841,339,000 after purchasing an additional 29,735,387 shares during the period. Finally, Morgan Stanley raised its stake in shares of Halliburton by 14.0% in the 4th quarter. Morgan Stanley now owns 15,806,168 shares of the oilfield services company’s stock worth $446,682,000 after buying an additional 1,943,845 shares in the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

Halliburton Stock Performance

Shares of HAL stock opened at $35.05 on Thursday. The company has a market capitalization of $29.20 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.17 and a beta of 0.73. Halliburton Company has a 1-year low of $20.78 and a 1-year high of $43.59. The company has a current ratio of 2.02, a quick ratio of 1.50 and a debt-to-equity ratio of 0.64. The stock’s fifty day simple moving average is $34.11 and its 200-day simple moving average is $36.50.

Halliburton (NYSE:HAL) last released its quarterly earnings data on Tuesday, July 21st. The oilfield services company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.01. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The firm had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. During the same quarter in the prior year, the business earned $0.55 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, sell-side analysts predict that Halliburton Company will post 2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HAL has been the subject of several research analyst reports. Wall Street Zen lowered Halliburton from a “buy” rating to a “hold” rating in a report on Saturday, August 15th. TD Cowen lowered their target price on Halliburton from $48.00 to $47.00 and set a “buy” rating on the stock in a report on Wednesday, July 22nd. Freedom Capital upgraded shares of Halliburton from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 22nd. Royal Bank Of Canada upped their price target on shares of Halliburton from $43.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $47.00 price target on shares of Halliburton in a report on Sunday, April 26th. Eighteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $43.10.

Insider Activity at Halliburton

In related news, CFO Eric Carre sold 24,778 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total value of $889,282.42. Following the completion of the sale, the chief financial officer directly owned 148,520 shares in the company, valued at approximately $5,330,382.80. This represents a 14.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.57% of the stock is currently owned by company insiders.

Halliburton Company Profile

Halliburton is one of the world’s largest providers of products and services to the energy industry, offering a broad portfolio that supports the lifecycle of oil and gas reservoirs from exploration and drilling through production and abandonment. Founded in 1919 by Erle P. Halliburton as an oil-well cementing company, the firm is headquartered in Houston, Texas and has developed into an integrated oilfield services company serving upstream operators globally.

The company’s activities encompass drilling and evaluation, well construction and completion, production enhancement and well intervention.