Brooklyn Investment Group Invests $194,000 in Schlumberger Limited (NYSE:SLB)

Brooklyn Investment Group purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,627 shares of the oil and gas company’s stock, valued at approximately $194,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners grew its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at $92,944,000. 1832 Asset Management L.P. bought a new stake in Schlumberger in the second quarter worth $91,364,000. Legal & General Group Plc increased its position in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Schlumberger by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after buying an additional 915,705 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock opened at $43.47 on Wednesday. The company has a market capitalization of $61.39 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.55 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The stock has a 50 day moving average of $42.89 and a two-hundred day moving average of $44.46.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. Schlumberger’s payout ratio is currently 35.37%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets lowered their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Susquehanna cut their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

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.