Lmcg Investments LLC Has $9.31 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Lmcg Investments LLC grew its position in Schlumberger Limited (NYSE:SLB) by 68.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 221,977 shares of the oil and gas company’s stock after purchasing an additional 90,374 shares during the period. Lmcg Investments LLC’s holdings in Schlumberger were worth $9,312,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Bruce G. Allen Investments LLC raised its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. Manchester Capital Management LLC raised its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SLB shares. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays dropped their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.8 %

Shares of SLB traded down $0.31 during trading hours on Friday, reaching $39.76. 12,605,858 shares of the stock traded hands, compared to its average volume of 12,131,746. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $42.44 and a 200 day simple moving average of $45.19. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.75. The company has a market cap of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed 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. This represents a $1.10 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

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.