Lafayette Investments Inc. Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Lafayette Investments Inc. increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,000 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the period. Lafayette Investments Inc.’s holdings in Schlumberger were worth $587,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SLB. ORG Partners LLC raised its holdings in shares of Schlumberger by 393.5% during 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 last quarter. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter valued at $27,000. Bruce G. Allen Investments LLC grew its position in 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 valued at $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter valued at $30,000. Finally, Manchester Capital Management LLC grew its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLB shares. Barclays dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. 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 on the stock. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Down 0.8 %

NYSE SLB traded down $0.32 on Thursday, hitting $41.81. 1,391,293 shares of the stock were exchanged, compared to its average volume of 11,059,003. The company has a 50-day moving average price of $43.00 and a 200-day moving average price of $45.75. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a market cap of $59.36 billion, a PE ratio of 13.55, a PEG ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.