Schlumberger Limited (NYSE:SLB) Shares Acquired by Heritage Investors Management Corp

Heritage Investors Management Corp boosted its position in Schlumberger Limited (NYSE:SLB) by 1.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 186,458 shares of the oil and gas company’s stock after acquiring an additional 3,456 shares during the quarter. Heritage Investors Management Corp’s holdings in Schlumberger were worth $7,822,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SLB. Manchester Capital Management LLC lifted its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. ORG Partners LLC raised its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the second quarter worth approximately $30,000. Finally, Riverview Trust Co boosted its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SLB shares. BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays cut their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Up 0.8 %

NYSE SLB traded up $0.34 during trading hours on Tuesday, hitting $40.66. 515,032 shares of the company’s stock were exchanged, compared to its average volume of 11,136,599. The business’s 50 day moving average is $42.34 and its 200-day moving average is $45.03. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.47. The firm has a market capitalization of $57.42 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.40 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, topping the consensus estimate of $0.88 by $0.01. The firm 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 for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Schlumberger 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.