Hennessy Advisors Inc. Acquires 125,600 Shares of Schlumberger Limited (NYSE:SLB)

Hennessy Advisors Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 848.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 140,410 shares of the oil and gas company’s stock after purchasing an additional 125,600 shares during the period. Hennessy Advisors Inc.’s holdings in Schlumberger were worth $5,869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter valued at approximately $32,000. True Wealth Design LLC raised its position in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares during the period. Bogart Wealth LLC raised its position in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. Mpwm Advisory Solutions LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $40,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $46,000. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director now owns 23,525 shares in the company, valued at $789,969.50. This represents a 17.53% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.9%

SLB opened at $36.31 on Friday. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s fifty day moving average price is $34.36 and its two-hundred day moving average price is $38.35. The company has a market capitalization of $49.38 billion, a P/E ratio of 11.67, a P/E/G ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion for the quarter, compared to analyst estimates of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.14%. Schlumberger’s dividend payout ratio is currently 38.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLB. Susquehanna dropped their price target on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Barclays dropped their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company dropped their price target on shares of Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Thursday, June 5th. Piper Sandler dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $52.38.

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.