Keene & Associates Inc. Purchases 6,537 Shares of Schlumberger Limited (NYSE:SLB)

Keene & Associates Inc. raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9.5% during the third quarter, Holdings Channel reports. The fund owned 75,521 shares of the oil and gas company’s stock after buying an additional 6,537 shares during the period. Schlumberger comprises about 2.4% of Keene & Associates Inc.’s investment portfolio, making the stock its 23rd biggest position. Keene & Associates Inc.’s holdings in Schlumberger were worth $3,168,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its holdings 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 buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $30,000. Finally, Manchester Capital Management LLC boosted its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLB. Piper Sandler lowered their price objective on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company lowered their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Susquehanna cut their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Finally, BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $42.13 on Thursday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $59.05. The firm has a market capitalization of $59.82 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.48 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $43.00 and a two-hundred day simple moving average of $45.75.

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, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.78 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.41 earnings per share 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 of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.61%. Schlumberger’s payout ratio is currently 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.