Qsemble Capital Management LP Acquires 100,335 Shares of Schlumberger Limited (NYSE:SLB)

Qsemble Capital Management LP increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 231.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,720 shares of the oil and gas company’s stock after buying an additional 100,335 shares during the period. Schlumberger accounts for about 1.1% of Qsemble Capital Management LP’s investment portfolio, making the stock its biggest holding. Qsemble Capital Management LP’s holdings in Schlumberger were worth $6,029,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter worth about $30,000. Riverview Trust Co boosted its position in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the last quarter. Finally, Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLB. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Citigroup decreased their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Barclays decreased their target price 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, UBS Group dropped their price target 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 equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Performance

Schlumberger stock traded up $0.04 during midday trading on Monday, hitting $44.27. The company’s stock had a trading volume of 1,408,523 shares, compared to its average volume of 11,179,220. The company has a 50-day moving average price of $42.78 and a two-hundred day moving average price of $44.53. 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 $62.52 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.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid 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 2.48%. Schlumberger’s payout ratio is 35.37%.

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 transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

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.