Hodges Capital Management Inc. boosted its position in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 288.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,652 shares of the oil and gas company’s stock after buying an additional 47,254 shares during the quarter. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $2,670,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its stake in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after buying an additional 528,279 shares during the period. Legal & General Group Plc increased its holdings in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Van ECK Associates Corp increased its holdings in Schlumberger by 1.2% during the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock worth $404,985,000 after purchasing an additional 100,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. JPMorgan Chase & Co. lowered their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $60.97.
Schlumberger Stock Down 2.5 %
NYSE SLB opened at $40.96 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a 50 day moving average of $43.02 and a 200-day moving average of $44.17. The company has a market cap of $57.84 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.45 and a beta of 1.51.
Schlumberger (NYSE:SLB – Get Free Report) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.
Schlumberger Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.69%. Schlumberger’s payout ratio is 35.37%.
Insider Activity
In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by company insiders.
Schlumberger Profile
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
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