Dynamic Technology Lab Private Ltd Takes Position in Schlumberger Limited (NYSE:SLB)

Dynamic Technology Lab Private Ltd purchased a new position in Schlumberger Limited (NYSE:SLB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 53,985 shares of the oil and gas company’s stock, valued at approximately $2,265,000.

Several other hedge funds have also recently made changes to their positions in the stock. ORG Partners LLC grew its position in Schlumberger by 393.5% in the 3rd 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 grew 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 purchasing an additional 392 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter valued at approximately $29,000. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Finally, Riverview Trust Co boosted its stake in Schlumberger by 90.6% in the 2nd 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. 81.99% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Evercore ISI decreased their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 0.4 %

Shares of SLB opened at $44.23 on Monday. The company’s fifty day simple moving average is $42.78 and its 200-day simple moving average is $44.53. The company has a market cap of $62.46 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.56 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69.

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. The company had revenue of $9.16 billion for 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%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS. As a group, analysts expect that Schlumberger Limited will post 3.39 EPS for the current 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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 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.