First Trust Advisors LP increased its position in Schlumberger Limited. (NYSE:SLB) by 18.1% during the third quarter, HoldingsChannel.com reports. The fund owned 393,930 shares of the oil and gas company’s stock after purchasing an additional 60,486 shares during the quarter. First Trust Advisors LP’s holdings in Schlumberger were worth $23,998,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in SLB. Mainstay Capital Management LLC ADV increased its holdings in shares of Schlumberger by 3,884.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after acquiring an additional 6,603 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Schlumberger in the 3rd quarter worth about $132,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Schlumberger by 909.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 20,137 shares during the period. Squar Milner Financial Services LLC acquired a new stake in shares of Schlumberger in the 2nd quarter worth about $157,000. Finally, Westbourne Investment Advisors Inc. acquired a new stake in shares of Schlumberger in the 3rd quarter worth about $158,000. 78.47% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Tudor Pickering cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. ValuEngine cut shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Credit Suisse Group raised their target price on shares of Schlumberger from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Monday, July 23rd. UBS Group lowered their target price on shares of Schlumberger from $92.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 22nd. Finally, Jefferies Financial Group set a $80.00 target price on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $76.84.
Shares of SLB opened at $51.96 on Tuesday. The company has a market capitalization of $71.18 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 5.07 and a beta of 1.03. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.85 and a current ratio of 1.13. Schlumberger Limited. has a 12-month low of $50.72 and a 12-month high of $80.35.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. As a group, research analysts forecast that Schlumberger Limited. will post 1.69 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Wednesday, December 5th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 4th. This represents a $2.00 annualized dividend and a dividend yield of 3.85%. Schlumberger’s dividend payout ratio is currently 133.33%.
In other news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the transaction, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael E. Marks acquired 8,000 shares of the stock in a transaction dated Thursday, September 6th. The stock was acquired at an average cost of $60.31 per share, for a total transaction of $482,480.00. The disclosure for this purchase can be found here. Insiders own 0.48% of the company’s stock.
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Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
Further Reading: Book Value Per Share – BVPS
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