English Capital Management LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

English Capital Management LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 34.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,106 shares of the oil and gas company’s stock after purchasing an additional 23,040 shares during the period. Schlumberger comprises approximately 2.8% of English Capital Management LLC’s holdings, making the stock its 21st largest holding. English Capital Management LLC’s holdings in Schlumberger were worth $3,780,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC increased its position in shares of 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 worth $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC grew its holdings in 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 shares of Schlumberger in the 2nd quarter worth approximately $30,000. Riverview Trust Co boosted its stake in shares of Schlumberger by 90.6% during 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. Finally, Prospera Private Wealth LLC purchased a new stake in Schlumberger during the third quarter worth $29,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Barclays dropped their price objective 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 reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 0.4 %

Shares of SLB stock opened at $44.23 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a market cap of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52. 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 stock has a 50 day simple moving average of $42.78 and a 200-day simple moving average of $44.58.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.