Hodges Capital Management Inc. Buys 47,254 Shares of Schlumberger Limited (NYSE:SLB)

Hodges Capital Management Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 288.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 63,652 shares of the oil and gas company’s stock after buying an additional 47,254 shares during the quarter. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $2,670,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Headinvest LLC grew its stake in shares of Schlumberger by 5.3% during the third quarter. Headinvest LLC now owns 30,897 shares of the oil and gas company’s stock worth $1,296,000 after buying an additional 1,555 shares during the last quarter. Kimelman & Baird LLC grew its stake in shares of Schlumberger by 2,670.0% in the third quarter. Kimelman & Baird LLC now owns 2,770 shares of the oil and gas company’s stock worth $116,000 after purchasing an additional 2,670 shares during the last quarter. Northeast Financial Consultants Inc bought a new stake in shares of Schlumberger in the third quarter worth $1,737,000. Orion Portfolio Solutions LLC grew its stake in shares of Schlumberger by 1.0% in the third quarter. Orion Portfolio Solutions LLC now owns 72,661 shares of the oil and gas company’s stock worth $3,048,000 after purchasing an additional 721 shares during the last quarter. Finally, iSAM Funds UK Ltd bought a new stake in shares of Schlumberger in the third quarter worth $1,691,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.96 on Monday. The firm’s 50-day moving average price is $43.02 and its 200-day moving average price is $44.17. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The firm has a market capitalization of $57.84 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.45 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.69%. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SLB. TD Cowen reduced their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, Citigroup reduced their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently 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.