Kovitz Investment Group Partners LLC Acquires New Shares in Schlumberger Limited (NYSE:SLB)
Kovitz Investment Group Partners LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 14,023 shares of the oil and gas company’s stock, valued at approximately $218,000.
Other large investors also recently added to or reduced their stakes in the company. Liberty Wealth Management LLC boosted its position in Schlumberger by 706.9% during the 3rd quarter. Liberty Wealth Management LLC now owns 1,872 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,640 shares during the period. CX Institutional boosted its position in Schlumberger by 130.2% during the 3rd quarter. CX Institutional now owns 1,984 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 1,122 shares during the period. Optimum Investment Advisors raised its stake in Schlumberger by 131.8% during the 3rd quarter. Optimum Investment Advisors now owns 2,070 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,177 shares in the last quarter. Allworth Financial LP raised its stake in Schlumberger by 59.0% during the 2nd quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 770 shares in the last quarter. Finally, Lindbrook Capital LLC raised its stake in Schlumberger by 97.2% during the 2nd quarter. Lindbrook Capital LLC now owns 2,489 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 72.50% of the company’s stock.
In other Schlumberger news, CEO Peuch Olivier Le purchased 25,000 shares of the stock in a transaction dated Monday, September 14th. The shares were acquired at an average price of $17.95 per share, for a total transaction of $448,750.00. Following the completion of the acquisition, the chief executive officer now owns 191,770 shares of the company’s stock, valued at approximately $3,442,271.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.58% of the company’s stock.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 16th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.03. The company had revenue of $5.26 billion for the quarter, compared to analyst estimates of $5.37 billion. Schlumberger had a positive return on equity of 7.34% and a negative net margin of 40.15%. Schlumberger’s revenue for the quarter was down 38.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Analysts expect that Schlumberger Limited will post 0.63 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 14th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Tuesday, December 1st. Schlumberger’s dividend payout ratio (DPR) is presently 34.01%.
Several analysts have weighed in on SLB shares. Exane BNP Paribas started coverage on Schlumberger in a research note on Monday, October 12th. They set a “neutral” rating on the stock. Scotiabank lifted their target price on Schlumberger from $21.00 to $22.00 and gave the company a “sector outperform” rating in a research note on Monday, October 19th. BMO Capital Markets started coverage on Schlumberger in a research note on Thursday, October 1st. They set an “outperform” rating and a $21.00 target price on the stock. Citigroup raised Schlumberger from a “neutral” rating to a “buy” rating and lifted their target price for the company from $20.00 to $26.00 in a research note on Monday, July 27th. Finally, BNP Paribas started coverage on Schlumberger in a research note on Monday, October 12th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. Schlumberger presently has a consensus rating of “Hold” and a consensus target price of $22.29.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; and petro technical data services and training solutions.
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