Schlumberger Limited. (NYSE:SLB) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. reduced its holdings in Schlumberger Limited. (NYSE:SLB) by 26.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,306 shares of the oil and gas company’s stock after selling 7,487 shares during the quarter. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SLB. CX Institutional lifted its holdings in shares of Schlumberger by 130.2% in the 3rd quarter. CX Institutional now owns 1,984 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 1,122 shares during the period. Optimum Investment Advisors lifted its holdings in shares of Schlumberger by 131.8% in the 3rd quarter. Optimum Investment Advisors now owns 2,070 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 1,177 shares during the period. Allworth Financial LP lifted its holdings in shares of Schlumberger by 59.0% in the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 770 shares during the period. Verus Capital Partners LLC increased its stake in Schlumberger by 52.7% in the 1st quarter. Verus Capital Partners LLC now owns 2,932 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Lindbrook Capital LLC increased its stake in Schlumberger by 97.2% in the 2nd quarter. Lindbrook Capital LLC now owns 2,489 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 1,227 shares in the last quarter. 72.50% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on SLB. Citigroup raised Schlumberger from a “neutral” rating to a “buy” rating and raised their price objective for the company from $20.00 to $26.00 in a research note on Monday, July 27th. BMO Capital Markets began coverage on Schlumberger in a research note on Thursday, October 1st. They issued an “outperform” rating and a $21.00 price objective for the company. ValuEngine downgraded Schlumberger from a “hold” rating to a “sell” rating in a research note on Thursday, October 1st. UBS Group raised their price objective on Schlumberger from $18.00 to $19.50 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Schlumberger in a research note on Friday, July 24th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.07.

In other news, CEO Peuch Olivier Le bought 25,000 shares of Schlumberger stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average price of $17.95 per share, for a total transaction of $448,750.00. Following the completion of the acquisition, the chief executive officer now owns 191,770 shares of the company’s stock, valued at $3,442,271.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark G. Papa bought 15,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, August 5th. The stock was purchased at an average price of $19.46 per share, for a total transaction of $291,900.00. Following the acquisition, the director now directly owns 50,131 shares of the company’s stock, valued at approximately $975,549.26. The disclosure for this purchase can be found here. 0.58% of the stock is currently owned by company insiders.

Shares of NYSE:SLB opened at $14.97 on Friday. The company has a market cap of $20.78 billion, a P/E ratio of -0.95, a P/E/G ratio of 4.71 and a beta of 2.10. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 1.35. Schlumberger Limited. has a 52 week low of $11.87 and a 52 week high of $41.14. The business has a fifty day simple moving average of $17.41 and a 200-day simple moving average of $17.82.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 16th. The oil and gas company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. Schlumberger had a positive return on equity of 8.12% and a negative net margin of 73.90%. The firm had revenue of $5.26 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down 38.4% compared to the same quarter last year. Sell-side analysts expect that Schlumberger Limited. will post 0.56 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Investors of record on Wednesday, December 2nd will be issued a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Tuesday, December 1st. Schlumberger’s payout ratio is currently 34.01%.

Schlumberger Profile

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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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