American Financial Network Advisory Services LLC increased its stake in shares of Schlumberger Limited. (NYSE:SLB) by 11,559.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,561 shares of the oil and gas company’s stock after purchasing an additional 9,479 shares during the quarter. American Financial Network Advisory Services LLC’s holdings in Schlumberger were worth $587,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Summit Trail Advisors LLC raised its stake in Schlumberger by 6,833.5% in the first quarter. Summit Trail Advisors LLC now owns 3,457,055 shares of the oil and gas company’s stock valued at $3,457,000 after buying an additional 3,407,195 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Schlumberger by 8.0% in the second quarter. Bank of New York Mellon Corp now owns 29,461,493 shares of the oil and gas company’s stock valued at $1,974,805,000 after buying an additional 2,188,823 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Schlumberger in the first quarter valued at about $47,225,000. Bain Capital Public Equity Management LLC purchased a new stake in Schlumberger in the second quarter valued at about $45,421,000. Finally, Royal London Asset Management Ltd. purchased a new stake in Schlumberger in the second quarter valued at about $39,461,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.
SLB has been the subject of a number of research analyst reports. Morgan Stanley initiated coverage on Schlumberger in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $72.00 price target for the company. Stifel Nicolaus initiated coverage on Schlumberger in a research note on Monday, September 10th. They issued a “hold” rating and a $69.00 price target for the company. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Jefferies Financial Group decreased their price target on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Finally, Tudor Pickering cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Eight research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $78.90.
Shares of SLB stock opened at $58.47 on Friday. The company has a current ratio of 1.12, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $82.00 billion, a PE ratio of 38.98, a PEG ratio of 5.65 and a beta of 0.93. Schlumberger Limited. has a fifty-two week low of $57.59 and a fifty-two week high of $80.35.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $8.50 billion for the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a positive return on equity of 6.25% and a negative net margin of 2.34%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.42 earnings per share. Research analysts anticipate that Schlumberger Limited. will post 1.75 EPS for the current year.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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