Keene & Associates Inc. Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Keene & Associates Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,477 shares of the oil and gas company's stock after acquiring an additional 5,956 shares during the period. Schlumberger accounts for about 2.5% of Keene & Associates Inc.'s portfolio, making the stock its 19th biggest holding. Keene & Associates Inc.'s holdings in Schlumberger were worth $3,124,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital Investment Advisors LLC boosted its stake in Schlumberger by 8.9% during the third quarter. Capital Investment Advisors LLC now owns 9,426 shares of the oil and gas company's stock valued at $395,000 after buying an additional 768 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Schlumberger by 24.3% in the third quarter. Raymond James & Associates now owns 1,105,148 shares of the oil and gas company's stock worth $46,361,000 after buying an additional 215,773 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Schlumberger by 12.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 957,126 shares of the oil and gas company's stock worth $40,151,000 after buying an additional 108,311 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Schlumberger by 17.2% in the third quarter. Raleigh Capital Management Inc. now owns 2,578 shares of the oil and gas company's stock worth $108,000 after buying an additional 379 shares during the period. Finally, Townsend Asset Management Corp NC ADV purchased a new stake in shares of Schlumberger in the third quarter worth approximately $2,063,000. Institutional investors own 81.99% of the company's stock.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company's stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This represents a 22.18 % 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 quarter. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Down 2.1 %

NYSE SLB traded down $0.87 during midday trading on Friday, hitting $41.73. 13,669,641 shares of the company traded hands, compared to its average volume of 14,156,785. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $58.45 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51. The company's 50-day simple moving average is $40.20 and its 200-day simple moving average is $41.91. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SLB shares. Wells Fargo & Company reduced their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Atb Cap Markets downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Griffin Securities downgraded Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Jefferies Financial Group reduced their price objective on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

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.