Everence Capital Management Inc. Raises Stake in Schlumberger Limited (NYSE:SLB)

Everence Capital Management Inc. raised its position in Schlumberger Limited (NYSE:SLB) by 15.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,926 shares of the oil and gas company’s stock after purchasing an additional 15,000 shares during the period. Everence Capital Management Inc.’s holdings in Schlumberger were worth $4,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Crescent Grove Advisors LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth about $257,000. National Bank of Canada FI boosted its holdings in Schlumberger by 15.0% in 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 purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new stake in Schlumberger during the first quarter worth approximately $245,000. Public Sector Pension Investment Board lifted its position in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted 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 valued at $43,217,000 after buying an additional 64,974 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLB. Wells Fargo & Company reduced their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. BMO Capital Markets dropped their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.03.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.94 during trading hours on Monday, reaching $42.86. 7,453,170 shares of the company’s stock were exchanged, compared to its average volume of 11,071,446. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $59.05. The company has a market cap of $61.26 billion, a P/E ratio of 14.14, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. The company’s 50 day moving average is $43.10 and its two-hundred day moving average is $45.95.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.46 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.57%. Schlumberger’s payout ratio is currently 36.54%.

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.