49,188 Shares in Schlumberger Limited (NYSE:SLB) Bought by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, Holdings Channel reports. The fund bought 49,188 shares of the oil and gas company’s stock, valued at approximately $2,063,000.

Other hedge funds also recently added to or reduced their stakes in the company. Capital World Investors raised its holdings in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Boston Partners boosted its position in shares of Schlumberger by 35.8% in 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 acquired a new stake in Schlumberger in the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE SLB opened at $42.43 on Tuesday. The business’s 50-day simple moving average is $43.07 and its 200-day simple moving average is $45.87. The firm has a market capitalization of $60.24 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities analysts predict that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

Several brokerages have issued reports on SLB. UBS Group reduced their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. reduced their price target 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 research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.03.

About Schlumberger

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.