Hennessy Advisors Inc. lessened its stake in shares of Schlumberger Limited. (NYSE:SLB) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,000 shares of the oil and gas company’s stock after selling 5,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Schlumberger were worth $4,301,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the company. Ancora Advisors LLC grew its holdings in Schlumberger by 0.7% during the third quarter. Ancora Advisors LLC now owns 35,572 shares of the oil and gas company’s stock worth $1,215,000 after acquiring an additional 255 shares during the period. Trust Co. of Vermont grew its holdings in Schlumberger by 1.3% during the third quarter. Trust Co. of Vermont now owns 23,037 shares of the oil and gas company’s stock worth $787,000 after acquiring an additional 296 shares during the period. Cutler Investment Counsel LLC grew its holdings in Schlumberger by 0.6% during the third quarter. Cutler Investment Counsel LLC now owns 49,980 shares of the oil and gas company’s stock worth $1,708,000 after acquiring an additional 305 shares during the period. Acima Private Wealth LLC grew its holdings in Schlumberger by 34.1% during the third quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 315 shares during the period. Finally, Founders Financial Securities LLC grew its holdings in Schlumberger by 1.6% during the third quarter. Founders Financial Securities LLC now owns 20,499 shares of the oil and gas company’s stock worth $700,000 after acquiring an additional 324 shares during the period. Institutional investors and hedge funds own 76.58% of the company’s stock.
Schlumberger stock opened at $39.53 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29. The firm has a market capitalization of $55.14 billion, a price-to-earnings ratio of 24.40, a price-to-earnings-growth ratio of 2.92 and a beta of 1.59. Schlumberger Limited. has a fifty-two week low of $30.65 and a fifty-two week high of $48.88. The stock’s fifty day moving average is $38.84 and its two-hundred day moving average is $36.48.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited. will post 1.45 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Wednesday, December 4th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date was Tuesday, December 3rd. Schlumberger’s payout ratio is currently 123.46%.
A number of research analysts recently weighed in on SLB shares. Royal Bank of Canada set a $40.00 price objective on Schlumberger and gave the stock a “buy” rating in a report on Monday, October 21st. Morgan Stanley set a $50.00 target price on Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. Bernstein Bank started coverage on Schlumberger in a report on Tuesday. They issued an “underperform” rating and a $27.10 target price on the stock. Bank of America set a $43.00 target price on Schlumberger and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Stifel Nicolaus upped their target price on Schlumberger from $45.00 to $47.00 and gave the company a “buy” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Schlumberger currently has an average rating of “Buy” and an average price target of $43.26.
In related news, EVP Patrick Schorn sold 65,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $35.89, for a total transaction of $2,332,850.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $1,794,500. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 21,385 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $37.07, for a total value of $792,741.95. Following the sale, the executive vice president now directly owns 69,872 shares in the company, valued at approximately $2,590,155.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,735 shares of company stock worth $3,762,614. Corporate insiders own 0.48% of the company’s stock.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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