Keene & Associates Inc. Acquires 6,537 Shares of Schlumberger Limited (NYSE:SLB)

Keene & Associates Inc. increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,521 shares of the oil and gas company’s stock after acquiring an additional 6,537 shares during the quarter. Schlumberger makes up about 2.4% of Keene & Associates Inc.’s holdings, making the stock its 23rd largest position. Keene & Associates Inc.’s holdings in Schlumberger were worth $3,168,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Kingswood Wealth Advisors LLC grew its position in Schlumberger by 5.6% during the first quarter. Kingswood Wealth Advisors LLC now owns 13,944 shares of the oil and gas company’s stock valued at $764,000 after buying an additional 745 shares during the period. Sunbelt Securities Inc. grew its position in shares of Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after acquiring an additional 230 shares during the period. Brookstone Capital Management purchased a new stake in shares of Schlumberger during the 1st quarter worth approximately $1,758,000. Wealthcare Advisory Partners LLC raised its holdings in shares of Schlumberger by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 965 shares during the period. Finally, Fifth Third Wealth Advisors LLC purchased a new position in Schlumberger in the first quarter valued at approximately $502,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $42.13 on Thursday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $59.05. 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 stock has a market cap of $59.82 billion, a P/E ratio of 13.55, a PEG ratio of 1.48 and a beta of 1.51. The business’s 50-day moving average price is $43.00 and its two-hundred day moving average price is $45.75.

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, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. 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 business posted $0.78 earnings per share. As a group, equities analysts predict that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.61%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup cut their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Company 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.