Legacy Bridge LLC raised its holdings in Schlumberger Limited (NYSE:SLB – Get Rating) by 238.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 649 shares of the oil and gas company’s stock after buying an additional 457 shares during the period. Legacy Bridge LLC’s holdings in Schlumberger were worth $35,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Acadian Asset Management LLC acquired a new stake in Schlumberger in the 1st quarter valued at $25,000. Clearview Wealth Advisors LLC increased its stake in Schlumberger by 1,346.0% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 673 shares during the last quarter. James Investment Research Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at $28,000. SRS Capital Advisors Inc. increased its stake in Schlumberger by 216.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 553 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in Schlumberger by 59.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 928 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 347 shares during the last quarter. 80.22% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the stock. StockNews.com started coverage on shares of Schlumberger in a research note on Thursday. They issued a “hold” rating on the stock. The Goldman Sachs Group lifted their price objective on shares of Schlumberger from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, January 30th. Griffin Securities reissued a “buy” rating on shares of Schlumberger in a research report on Monday, January 16th. Benchmark started coverage on shares of Schlumberger in a research report on Thursday, January 19th. They issued a “buy” rating and a $65.00 price objective for the company. Finally, HSBC lifted their price objective on shares of Schlumberger from $56.80 to $75.00 and gave the company a “buy” rating in a research report on Monday, January 30th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $62.38.
Schlumberger Price Performance
Shares of Schlumberger stock opened at $44.68 on Friday. Schlumberger Limited has a twelve month low of $30.65 and a twelve month high of $62.78. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $54.41 and a two-hundred day simple moving average of $49.58. The stock has a market capitalization of $63.81 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.77.
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The business had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.80 billion. During the same quarter in the previous year, the company earned $0.41 EPS. The business’s revenue was up 26.6% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.02 EPS for the current year.
Schlumberger Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 2.24%. Schlumberger’s payout ratio is presently 41.67%.
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).
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