E Fund Management Hong Kong Co. Ltd. bought a new stake in Schlumberger Limited (NYSE:SLB – Free Report) during the 3rd quarter, HoldingsChannel reports. The fund bought 1,392 shares of the oil and gas company’s stock, valued at approximately $58,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Advocates Investment Management increased its stake in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares during the period. Chilton Capital Management LLC increased its stake in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares during the period. Grove Bank & Trust increased its stake in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the period. First PREMIER Bank increased its stake in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the period. Finally, Team Hewins LLC increased its stake in Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after buying an additional 229 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Insider Buying and Selling
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 completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by company insiders.
Schlumberger Stock Down 0.7 %
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. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.
Schlumberger Announces Dividend
The business 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 $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.
Wall Street Analysts Forecast Growth
SLB has been the topic of several recent analyst reports. BMO Capital Markets reduced their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Barclays cut their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.97.
Read Our Latest Stock Report on SLB
About Schlumberger
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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