Hardy Reed LLC Takes $238,000 Position in Schlumberger Limited (NYSE:SLB)

Hardy Reed LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,672 shares of the oil and gas company’s stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter valued at approximately $92,944,000. 1832 Asset Management L.P. bought a new stake in Schlumberger during the second quarter worth $91,364,000. Legal & General Group Plc boosted its position in Schlumberger by 14.0% in 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. Finally, Dimensional Fund Advisors LP boosted its position in Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of NYSE:SLB opened at $43.47 on Wednesday. The company has a market cap of $61.39 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The firm has a fifty day moving average price of $42.89 and a two-hundred day moving average price of $44.46. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.53%. Schlumberger’s payout ratio is presently 35.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLB shares. Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. BMO Capital Markets reduced their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Company 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.