Bard Financial Services Inc. Boosts Stake in Schlumberger Limited (NYSE:SLB)

Bard Financial Services Inc. grew its stake in Schlumberger Limited (NYSE:SLB) by 38.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,525 shares of the oil and gas company’s stock after acquiring an additional 2,075 shares during the quarter. Bard Financial Services Inc.’s holdings in Schlumberger were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. 1832 Asset Management L.P. purchased a new position in shares of Schlumberger in the second quarter worth about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Schlumberger by 20.6% in 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 valued at $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% during the second 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 during the last quarter. Dimensional Fund Advisors LP lifted its position in Schlumberger by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after purchasing an additional 915,705 shares during the period. Finally, Merewether Investment Management LP purchased a new stake in Schlumberger in the second quarter valued at $42,957,000. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLB. Wells Fargo & Company decreased their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Schlumberger Trading Up 1.0 %

Shares of NYSE:SLB traded up $0.38 during midday trading on Monday, reaching $38.97. 4,547,011 shares of the company’s stock were exchanged, compared to its average volume of 8,731,761. The firm’s 50 day simple moving average is $41.12 and its two-hundred day simple moving average is $43.32. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.82%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

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.