Hodges Capital Management Inc. Sells 52,120 Shares of Schlumberger Limited (NYSE:SLB)

Hodges Capital Management Inc. lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 81.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,532 shares of the oil and gas company’s stock after selling 52,120 shares during the period. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $442,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. Czech National Bank increased its position in shares of Schlumberger by 6.2% during the 3rd quarter. Czech National Bank now owns 289,269 shares of the oil and gas company’s stock valued at $12,135,000 after purchasing an additional 16,919 shares during the last quarter. Quent Capital LLC boosted its stake in shares of Schlumberger by 31.3% in the third quarter. Quent Capital LLC now owns 1,509 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC grew its holdings in Schlumberger by 7.0% during the 3rd quarter. GAMMA Investing LLC now owns 15,870 shares of the oil and gas company’s stock valued at $666,000 after buying an additional 1,042 shares in the last quarter. Diversified Trust Co lifted its stake in Schlumberger by 12.4% in the 3rd quarter. Diversified Trust Co now owns 18,013 shares of the oil and gas company’s stock worth $756,000 after purchasing an additional 1,994 shares in the last quarter. Finally, Miracle Mile Advisors LLC boosted its stake in Schlumberger by 26.1% during the third quarter. Miracle Mile Advisors LLC now owns 113,976 shares of the oil and gas company’s stock valued at $4,781,000 after buying an additional 23,567 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Down 0.3 %

NYSE SLB opened at $40.16 on Tuesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm has a market cap of $56.26 billion, a PE ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51. The business’s fifty day simple moving average is $40.49 and its 200-day simple moving average is $42.49. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 35.37%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Citigroup boosted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 in the last 90 days. Company insiders own 0.26% of the company’s stock.

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.