DLD Asset Management LP Invests $1.53 Million in Schlumberger Limited $SLB

DLD Asset Management LP acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 36,604 shares of the oil and gas company’s stock, valued at approximately $1,530,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vident Advisory LLC grew its position in shares of Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC grew its position in shares of Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after buying an additional 282 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Schlumberger by 4.5% during the first quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas grew its position in shares of Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after buying an additional 318 shares in the last quarter. Finally, Horizon Investments LLC grew its position in shares of Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after buying an additional 330 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE SLB opened at $36.00 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The stock has a 50 day moving average of $34.82 and a two-hundred day moving average of $35.82. The stock has a market cap of $53.77 billion, a P/E ratio of 12.33, a P/E/G ratio of 10.03 and a beta of 1.05.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.2%. Schlumberger’s payout ratio is currently 39.04%.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Susquehanna lowered their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Morgan Stanley lowered their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.86.

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.