Schlumberger Limited. (NYSE:SLB) Position Boosted by Viking Fund Management LLC

Viking Fund Management LLC raised its position in shares of Schlumberger Limited. (NYSE:SLB) by 54.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 195,950 shares of the oil and gas company’s stock after purchasing an additional 68,950 shares during the quarter. Schlumberger accounts for about 2.2% of Viking Fund Management LLC’s investment portfolio, making the stock its 16th biggest holding. Viking Fund Management LLC’s holdings in Schlumberger were worth $13,669,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wendell David Associates Inc. boosted its stake in shares of Schlumberger by 6.4% during the third quarter. Wendell David Associates Inc. now owns 17,406 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 1,050 shares during the period. Academy Capital Management Inc. TX boosted its stake in shares of Schlumberger by 2.3% during the third quarter. Academy Capital Management Inc. TX now owns 114,650 shares of the oil and gas company’s stock valued at $7,997,000 after purchasing an additional 2,557 shares during the period. Adams Asset Advisors LLC purchased a new stake in shares of Schlumberger during the third quarter valued at $6,910,000. Asset Dedication LLC boosted its stake in shares of Schlumberger by 29.6% during the third quarter. Asset Dedication LLC now owns 3,991 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 911 shares during the period. Finally, BerganKDV Wealth Management LLC purchased a new stake in Schlumberger in the third quarter worth about $345,000. Hedge funds and other institutional investors own 79.31% of the company’s stock.

In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at $93,945. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.

SLB has been the subject of a number of research reports. Deutsche Bank initiated coverage on shares of Schlumberger in a research note on Tuesday, October 10th. They issued a “buy” rating and a $78.00 price objective for the company. Royal Bank of Canada set a $86.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 7th. Cowen set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Friday, October 6th. Citigroup upped their price objective on shares of Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, October 5th. Finally, Jefferies Group reiterated a “buy” rating and issued a $80.00 price target on shares of Schlumberger in a report on Friday, September 29th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $79.37.

Shares of Schlumberger Limited. (SLB) traded up $1.45 on Thursday, hitting $77.05. The stock had a trading volume of 10,138,600 shares, compared to its average volume of 9,300,000. The stock has a market cap of $106,730.00, a PE ratio of 197.56, a PEG ratio of 1.53 and a beta of 1.01. Schlumberger Limited. has a fifty-two week low of $61.02 and a fifty-two week high of $87.84. The company has a quick ratio of 1.20, a current ratio of 1.53 and a debt-to-equity ratio of 0.40.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share. research analysts forecast that Schlumberger Limited. will post 1.46 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Wednesday, December 6th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.60%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s dividend payout ratio (DPR) is 512.82%.

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Schlumberger Profile

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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