Brooklyn Investment Group Takes Position in Schlumberger Limited (NYSE:SLB)

Brooklyn Investment Group acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 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. ORG Partners LLC boosted its holdings 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 buying an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its stake in 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 valued at $28,000 after acquiring an additional 392 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter valued at approximately $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth approximately $30,000. Finally, Riverview Trust Co lifted its holdings in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Citigroup lowered their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI decreased their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. reduced their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In related 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 transaction of $2,514,000.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.6 %

Shares of NYSE SLB opened at $43.47 on Wednesday. The business has a fifty day simple moving average of $42.89 and a 200-day simple moving average of $44.46. The company has a market cap of $61.39 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.55 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. Schlumberger Limited has a 12 month low of $38.66 and a 12 month 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 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.