EntryPoint Capital LLC Boosts Holdings in Schlumberger Limited $SLB

EntryPoint Capital LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 4.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,348 shares of the oil and gas company’s stock after buying an additional 316 shares during the period. EntryPoint Capital LLC’s holdings in Schlumberger were worth $307,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vident Advisory LLC grew its position in Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after purchasing an additional 273 shares during the last quarter. Glen Eagle Advisors LLC grew its position in Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas grew its position in Schlumberger by 2.2% during the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 318 shares during the last quarter. Wahed Invest LLC grew its position in Schlumberger by 0.9% during the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company’s stock worth $1,343,000 after purchasing an additional 319 shares during the last quarter. Finally, Horizon Investments LLC grew its position in Schlumberger by 1.5% during the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock worth $946,000 after purchasing an additional 330 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 1.2%

Shares of NYSE SLB opened at $33.7660 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.16. The firm has a 50-day moving average price of $34.53 and a 200 day moving average price of $36.40. The stock has a market capitalization of $45.63 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 9.26 and a beta of 1.03.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger’s dividend payout ratio (DPR) is 39.04%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SLB shares. Melius Research started coverage on shares of Schlumberger in a report on Wednesday. They issued a “buy” rating and a $82.00 target price on the stock. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Piper Sandler lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a report on Friday, July 18th. Finally, Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.86.

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.