Hourglass Capital LLC Raises Holdings in Schlumberger Limited (NYSE:SLB)

Hourglass Capital LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 12.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,565 shares of the oil and gas company’s stock after buying an additional 26,220 shares during the quarter. Schlumberger comprises approximately 2.7% of Hourglass Capital LLC’s holdings, making the stock its 3rd largest position. Hourglass Capital LLC’s holdings in Schlumberger were worth $10,265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its position in shares of Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock valued at $2,737,000 after purchasing an additional 17,405 shares during the period. Geode Capital Management LLC grew its holdings in shares of Schlumberger by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock worth $1,146,195,000 after purchasing an additional 1,377,134 shares during the last quarter. Scharf Investments LLC grew its position in Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC grew its holdings in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after purchasing an additional 66,907 shares during the last quarter. Finally, Miller Financial Services LLC bought a new stake in Schlumberger during the 4th quarter worth about $375,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 1.9%

Shares of SLB opened at $34.98 on Tuesday. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The firm has a market capitalization of $47.58 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 9.38 and a beta of 1.01. The firm’s 50-day moving average price is $34.55 and its 200-day moving average price is $37.66.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The company had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period in the prior year, the company posted $0.75 earnings per share. The company’s revenue was down 2.5% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is presently 38.64%.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Susquehanna cut their price target on Schlumberger from $46.00 to $44.00 and set a “positive” rating on the stock in a report on Tuesday, July 1st. Stifel Nicolaus cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. UBS Group raised their price target on shares of Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Wednesday, July 2nd. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, June 26th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $50.85.

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.