Teachers Retirement System of The State of Kentucky increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 25.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 761,875 shares of the oil and gas company's stock after purchasing an additional 156,698 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.05% of Schlumberger worth $31,961,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in SLB. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter worth $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter worth about $37,000. Finally, Cultivar Capital Inc. bought a new position in Schlumberger in the 2nd quarter worth about $45,000. Hedge funds and other institutional investors own 81.99% of the company's stock.
SLB opened at $40.88 on Wednesday. The stock has a market cap of $57.72 billion, a PE ratio of 13.14, a PEG ratio of 1.45 and a beta of 1.51. The business has a 50 day moving average of $43.01 and a 200-day moving average of $44.13. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.
Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $9.27 billion. During the same quarter in the previous year, the business posted $0.78 EPS. The company's quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.69%. Schlumberger's payout ratio is currently 35.37%.
In related news, EVP Abdellah Merad sold 60,000 shares of the firm's stock in a transaction that occurred 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 owns 211,937 shares of the company's stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by company insiders.
A number of analysts have recently issued reports on the company. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price target on the stock. Stifel Nicolaus reiterated a "buy" rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Finally, Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.91.
Get Our Latest Report on SLB
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.
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