iSAM Funds UK Ltd Invests $1.69 Million in Schlumberger Limited (NYSE:SLB)

iSAM Funds UK Ltd purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the third quarter, HoldingsChannel reports. The firm purchased 40,305 shares of the oil and gas company’s stock, valued at approximately $1,691,000. Schlumberger accounts for 1.0% of iSAM Funds UK Ltd’s portfolio, making the stock its 15th biggest position.

A number of other hedge funds also recently modified their holdings of SLB. ORG Partners LLC lifted 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 period. Bruce G. Allen Investments LLC lifted its holdings 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 purchasing an additional 392 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth $29,000. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger during the second quarter worth $30,000. Finally, Riverview Trust Co lifted its holdings 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 worth $31,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Down 2.5 %

SLB opened at $40.97 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average price of $43.05 and a two-hundred day moving average price of $44.26. The company has a market cap of $57.86 billion, a P/E ratio of 13.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its 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 company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share. Analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.68%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

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.