New York State Common Retirement Fund Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

New York State Common Retirement Fund lifted its stake in Schlumberger Limited (NYSE:SLB) by 10.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,336,042 shares of the oil and gas company’s stock after buying an additional 223,623 shares during the period. New York State Common Retirement Fund owned approximately 0.16% of Schlumberger worth $97,997,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Financial Advocates Investment Management grew its holdings in Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its holdings in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. Grove Bank & Trust raised 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 valued at $64,000 after purchasing an additional 224 shares during the last quarter. First PREMIER Bank lifted its holdings in Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the period. Finally, Team Hewins LLC grew its position in shares of Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after buying an additional 229 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on 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. The trade was 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 through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $39.76 on Friday. The business has a fifty day moving average price of $42.44 and a 200-day moving average price of $45.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $56.15 billion, a PE ratio of 12.78, a PEG ratio of 1.42 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 business had revenue of $9.16 billion during 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%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, equities analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SLB. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Barclays decreased their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.