Fisher Asset Management LLC Raises Holdings in Schlumberger Limited (NYSE:SLB)

Fisher Asset Management LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 1,159,818 shares of the oil and gas company’s stock after buying an additional 60,070 shares during the period. Fisher Asset Management LLC’s holdings in Schlumberger were worth $48,654,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of SLB. Financial Advocates Investment Management increased its holdings in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC raised its position in shares of Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after acquiring an additional 219 shares during the period. Grove Bank & Trust boosted its stake in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. First PREMIER Bank grew its position in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares during the period. Finally, Addison Advisors LLC increased its stake in shares of Schlumberger by 6.5% in the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $43.47 on Wednesday. The stock has a market cap of $61.39 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $42.89 and a 200-day simple moving average of $44.46. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. Schlumberger’s payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. TD Cowen dropped their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Barclays dropped their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Profile

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.