Deutsche Bank AG Makes New $103.51 Million Investment in Halliburton Company $HAL

Key Points

• Deutsche Bank acquired 3.05 million Halliburton shares worth approximately $103.5 million in the second quarter, representing about 0.37% of the company. Institutional investors collectively own 85.23% of Halliburton.
• Halliburton exceeded quarterly expectations, reporting $0.55 in adjusted EPS versus a $0.54 consensus estimate and $5.71 billion in revenue, up 3.7% year over year.
• Analysts maintain a generally positive view, with 18 Buy, six Hold and one Sell rating. The stock has a “Moderate Buy” consensus and a $43.10 average price target versus its recent price of $35.05.

Deutsche Bank AG purchased a new stake in Halliburton Company (NYSE:HAL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 3,049,011 shares of the oilfield services company's stock, valued at approximately $103,514,000. Deutsche Bank AG owned approximately 0.37% of Halliburton as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HAL. Matrix Trust Co acquired a new position in Halliburton during the second quarter worth about $29,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Halliburton in the fourth quarter valued at approximately $25,000. Zions Bancorporation National Association UT grew its position in shares of Halliburton by 196.4% in the fourth quarter. Zions Bancorporation National Association UT now owns 981 shares of the oilfield services company's stock valued at $28,000 after purchasing an additional 650 shares during the last quarter. Hoey Investments Inc. purchased a new position in shares of Halliburton during the 1st quarter worth approximately $39,000. Finally, Kelleher Financial Advisors purchased a new position in shares of Halliburton during the 3rd quarter worth approximately $25,000. Institutional investors and hedge funds own 85.23% of the company's stock.

Halliburton Stock Performance

Halliburton stock opened at $35.05 on Thursday. The company has a market cap of $29.20 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 2.17 and a beta of 0.73. Halliburton Company has a 12 month low of $20.78 and a 12 month high of $43.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.02 and a quick ratio of 1.50. The stock's 50-day moving average is $34.11 and its 200-day moving average is $36.50.

Halliburton (NYSE:HAL - Get Free Report) last posted its earnings results 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. The business had revenue of $5.71 billion for the quarter, compared to analyst estimates of $5.50 billion. Halliburton had a net margin of 7.16% and a return on equity of 18.71%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 EPS. Equities analysts anticipate that Halliburton Company will post 2.34 earnings per share for the current year.

Insider Activity at Halliburton

In other Halliburton news, CFO Eric Carre sold 24,778 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $35.89, for a total transaction of $889,282.42. Following the transaction, the chief financial officer directly owned 148,520 shares in the company, valued at $5,330,382.80. This represents a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.57% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HAL. Freedom Capital raised Halliburton from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 22nd. Capital One Financial increased their price objective on Halliburton from $41.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. Susquehanna dropped their price objective on Halliburton from $45.00 to $42.00 and set a "positive" rating for the company in a research report on Wednesday, July 8th. TD Cowen cut their target price on shares of Halliburton from $48.00 to $47.00 and set a "buy" rating for the company in a research note on Wednesday, July 22nd. Finally, Zephirin Group upped their target price on shares of Halliburton from $30.00 to $31.00 and gave the company a "sell" rating in a report on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Halliburton currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.10.

About Halliburton

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.

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