Mathes Company Inc. Buys 2,200 Shares of Schlumberger Limited (NYSE:SLB)

Mathes Company Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.0% in the third quarter, HoldingsChannel reports. The fund owned 16,900 shares of the oil and gas company’s stock after acquiring an additional 2,200 shares during the period. Mathes Company Inc.’s holdings in Schlumberger were worth $709,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SLB. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. Manchester Capital Management LLC boosted its position in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co boosted its stake in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’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 value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of SLB stock traded down $0.31 during trading hours on Friday, reaching $39.76. The company’s stock had a trading volume of 12,605,858 shares, compared to its average volume of 12,131,746. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm’s 50 day simple moving average is $42.44 and its 200-day simple moving average is $45.19. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $57.75.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.77%. Schlumberger’s payout ratio is 35.37%.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. UBS Group reduced their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Wells Fargo & Company cut their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger 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.