On September 14, 2023, it was reported that Sheets Smith Wealth Management had acquired a new stake in Schlumberger Limited (NYSE:SLB) during the first quarter. According to their filing with the Securities and Exchange Commission, they purchased 6,676 shares of the oil and gas company’s stock, valued at approximately $328,000.
Schlumberger recently released its quarterly earnings data on Friday, July 21st. The company reported earnings per share (EPS) of $0.72 for the quarter, surpassing analysts’ consensus estimates by $0.01. This resulted in a net margin of 12.63% and a return on equity of 21.27%. The firm generated revenue of $8.10 billion during the quarter, slightly lower than the consensus estimate of $8.20 billion. However, compared to the same period last year, the company’s quarterly revenue saw a significant increase of 19.6%.
Equities analysts have projected that Schlumberger Limited will post earnings per share of approximately $2.98 for the current fiscal year.
It is important to note that investing in stocks involves risks and should be approached with caution. The decision made by Sheets Smith Wealth Management to purchase shares in Schlumberger reflects their confidence in the potential growth and performance of the company.
As always, conducting thorough analysis and staying up-to-date with relevant information can assist investors in making informed decisions about their investments.
Disclaimer: This article provides general information only and should not be construed as financial advice or recommendation regarding any particular investment opportunity or strategy. It is recommended to seek professional advice from qualified financial advisors before making any investment decisions.
Hedge Funds Increase Holdings in Schlumberger as Positive Outlook Emerges for the Leading Oil and Gas Company
In recent news, several hedge funds have made modifications to their holdings of Schlumberger, the leading oil and gas company. Summit Financial Group Inc. increased its position in the company by 1.4% during the first quarter, acquiring an additional 200 shares. Howland Capital Management LLC also raised its position by 1.6%, adding 220 shares to its holdings. Eukles Asset Management saw a 3.3% increase in its position after acquiring an additional 221 shares, while Valmark Advisers Inc. raised its position by 5.2%, acquiring 248 more shares during the same period. Finally, Vigilant Capital Management LLC added another 250 shares to bring its position up by 12.5%. Currently, institutional investors and hedge funds own approximately 79.43% of Schlumberger’s stock.
On Thursday, September 14th, Schlumberger stock opened at $60.62 per share. The company has a 50-day moving average of $57.66 and a 200-day moving average of $51.60, indicating some fluctuations within the market recently. Over the past year, Schlumberger’s stock has seen a low of $33.80 and a high of $62.78.
As for financial ratios, Schlumberger Limited has a debt-to-equity ratio of 0.60 and current and quick ratios of 1.33 and 0.97 respectively, suggesting good liquidity for the company’s operations.
In terms of market capitalization, Schlumberger stands at $86.15 billion with a price-to-earnings ratio (P/E) of 22/12 and an appealing P/E-to-growth (P/E/G) ratio of just under one (0/77). This indicates that investors can expect reasonable earnings growth from buying Schlumberger stocks.
Furthermore, the company recently announced a quarterly dividend, with a payment scheduled for Thursday, October 12th. Stockholders who were on record by Wednesday, September 6th will receive a dividend of $0.25 per share. Calculated on an annualized basis, this amounts to a $1.00 dividend and yields 1/65%.
Industry analysts have also voiced their opinions on Schlumberger’s prospects. Raymond James raised its target price from $65.00 to $67.00, giving the company an “outperform” rating in a research report published on Monday, July 24th. Capital One Financial initiated coverage with an “overweight” rating and set a price objective of $63.00 on Wednesday, June 7th. Susquehanna increased their price objective from $68.00 to $72.00 and gave the company a “positive” rating in a research report released on Thursday, September 7th.
In summary, Schlumberger appears to be receiving positive feedback from analysts and investors alike due to its consistently solid performance and financial outlook. While two equities research analysts have rated the stock as “hold,” sixteen others have issued buy ratings for Schlumberger shares. With this information at hand, individuals looking to invest may consider Schlumberger as a potential opportunity in the energy sector.
(Note: The reference date used in this article is September 14th, 2023)