Fideuram Intesa Sanpaolo Private Banking S.P.A. Takes Position in Halliburton Company $HAL

Key Points

• Fideuram Intesa Sanpaolo Private Banking disclosed a new fourth-quarter stake in Halliburton, buying 83,360 shares valued at about $2.36 million.
• Other institutions also added to or initiated positions in Halliburton, and the stock remains heavily owned by funds and hedge funds at 85.23% of shares outstanding.
• Halliburton’s latest results topped estimates, with EPS of $0.55 versus $0.50 expected and revenue of $5.40 billion; meanwhile, analysts are broadly positive with a Moderate Buy consensus and an average price target of $42.86.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Halliburton Company (NYSE:HAL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 83,360 shares of the oilfield services company's stock, valued at approximately $2,356,000.

A number of other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. grew its stake in shares of Halliburton by 2.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 834,455 shares of the oilfield services company's stock valued at $23,582,000 after buying an additional 23,439 shares in the last quarter. Tredje AP fonden acquired a new stake in shares of Halliburton in the fourth quarter valued at $4,156,000. ProShare Advisors LLC grew its stake in shares of Halliburton by 4.7% in the fourth quarter. ProShare Advisors LLC now owns 194,273 shares of the oilfield services company's stock valued at $5,490,000 after buying an additional 8,788 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of Halliburton by 0.4% in the fourth quarter. Gabelli Funds LLC now owns 1,072,525 shares of the oilfield services company's stock valued at $30,310,000 after buying an additional 4,357 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new stake in shares of Halliburton in the fourth quarter valued at $831,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HAL. Piper Sandler boosted their target price on Halliburton from $34.00 to $40.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 15th. Susquehanna boosted their target price on Halliburton from $40.00 to $45.00 and gave the stock a "positive" rating in a research note on Tuesday, April 7th. Capital One Financial boosted their target price on Halliburton from $41.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday. Griffin Securities raised Halliburton from a "neutral" rating to a "buy" rating and set a $47.00 target price for the company in a research note on Wednesday, April 22nd. Finally, Zephirin Group boosted their target price on Halliburton from $30.00 to $31.00 and gave the stock a "sell" rating in a research note on Wednesday, April 22nd. Eighteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.86.

Insider Buying and Selling at Halliburton

In other news, insider Michael Casey Maxwell sold 20,348 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $41.89, for a total transaction of $852,377.72. Following the completion of the transaction, the insider directly owned 93,763 shares of the company's stock, valued at approximately $3,927,732.07. This represents a 17.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Timothy Mckeon sold 8,655 shares of the company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $42.00, for a total value of $363,510.00. Following the transaction, the vice president directly owned 72,976 shares of the company's stock, valued at approximately $3,064,992. This represents a 10.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 420,837 shares of company stock worth $16,979,135. Corporate insiders own 0.57% of the company's stock.

Halliburton Trading Down 1.7%

NYSE:HAL opened at $42.27 on Thursday. The stock has a 50-day simple moving average of $38.74 and a 200-day simple moving average of $33.49. The stock has a market cap of $35.31 billion, a P/E ratio of 23.22, a P/E/G ratio of 1.88 and a beta of 0.73. Halliburton Company has a 1 year low of $19.38 and a 1 year high of $43.59. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.54 and a current ratio of 2.08.

Halliburton (NYSE:HAL - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The business had revenue of $5.40 billion during the quarter, compared to analysts' expectations of $5.37 billion. Halliburton had a return on equity of 19.04% and a net margin of 6.95%.The business's quarterly revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. As a group, analysts anticipate that Halliburton Company will post 2.32 earnings per share for the current fiscal year.

Halliburton 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.

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