Hourglass Capital LLC Lowers Stake in Schlumberger Limited (NYSE:SLB)

Hourglass Capital LLC cut its stake in Schlumberger Limited (NYSE:SLB) by 1.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 179,670 shares of the oil and gas company’s stock after selling 2,310 shares during the period. Schlumberger makes up 2.1% of Hourglass Capital LLC’s investment portfolio, making the stock its 14th largest position. Hourglass Capital LLC’s holdings in Schlumberger were worth $7,537,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC boosted its position in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the third 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 last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the second quarter worth approximately $30,000. Riverview Trust Co boosted its position 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 acquiring an additional 308 shares during the last quarter. Finally, First Community Trust NA boosted its position in shares of Schlumberger by 264.0% in the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 528 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 1.7 %

SLB opened at $43.59 on Thursday. 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 moving average is $42.26 and its 200-day moving average is $44.77. The firm has a market capitalization of $61.56 billion, a P/E ratio of 14.02, a P/E/G ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly 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 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%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley reduced their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Bank of America reduced 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, Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price 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.