Culbertson A N & Co. Inc. Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Culbertson A N & Co. Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 29.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,625 shares of the oil and gas company’s stock after acquiring an additional 1,949 shares during the period. Culbertson A N & Co. Inc.’s holdings in Schlumberger were worth $362,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth $257,000. National Bank of Canada FI increased its position in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the last quarter. Mission Wealth Management LP acquired a new stake in shares of Schlumberger during the first quarter valued at about $245,000. Public Sector Pension Investment Board raised its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after acquiring an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SLB shares. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Stifel Nicolaus dropped their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. BMO Capital Markets dropped their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Finally, Barclays cut 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. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.97.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 1.7 %

Schlumberger stock opened at $43.67 on Thursday. The stock has a market cap of $62.42 billion, a PE ratio of 14.51, a P/E/G ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock’s fifty day moving average is $43.13 and its two-hundred day moving average is $46.18. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. On average, sell-side analysts expect that Schlumberger Limited will post 3.47 EPS for the current fiscal year.

Schlumberger Company 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.