61,725 Shares in Schlumberger Limited (NYSE:SLB) Bought by Romano Brothers AND Company

Romano Brothers AND Company acquired a new stake in Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 61,725 shares of the oil and gas company’s stock, valued at approximately $2,589,000.

Several other hedge funds also recently made changes to their positions in the company. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the 3rd 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 period. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC grew its holdings in shares of Schlumberger by 204.2% during the second 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 position in Schlumberger in the 2nd quarter valued at about $30,000. Finally, Manchester Capital Management LLC raised its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.5 %

NYSE:SLB opened at $42.13 on Thursday. The company has a market capitalization of $59.82 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $59.05. The stock has a fifty day simple moving average of $43.00 and a 200-day simple moving average of $45.75. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced 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. This represents a $1.10 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SLB. Morgan Stanley dropped their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Barclays reduced their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Evercore ISI dropped their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday. Citigroup lowered their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased 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 analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

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.