InvesTrust Buys Shares of 103,785 Schlumberger Limited (NYSE:SLB)

InvesTrust purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 103,785 shares of the oil and gas company’s stock, valued at approximately $3,961,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its position in 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 buying an additional 224 shares during the period. Clearstead Trust LLC raised its stake in Schlumberger by 0.8% during the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after buying an additional 237 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Schlumberger by 1.7% in the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after purchasing an additional 241 shares during the period. GM Advisory Group LLC boosted its holdings in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares in the last quarter. Finally, Cordatus Wealth Management LLC grew its holdings in Schlumberger by 2.1% in the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock traded down $0.70 during trading hours on Wednesday, hitting $38.67. 6,701,692 shares of the company were exchanged, compared to its average volume of 9,201,872. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. 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 firm has a fifty day simple moving average of $41.05 and a 200 day simple moving average of $43.22. The stock has a market capitalization of $54.61 billion, a price-to-earnings ratio of 12.43, a P/E/G ratio of 1.42 and a beta of 1.52.

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

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on SLB. Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Morgan Stanley decreased their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Susquehanna lowered their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.58.

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.