Schlumberger Limited (NYSE:SLB) Shares Bought by Ellis Investment Partners LLC

Ellis Investment Partners LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 36.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,562 shares of the oil and gas company’s stock after purchasing an additional 3,615 shares during the period. Ellis Investment Partners LLC’s holdings in Schlumberger were worth $569,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Boston Partners lifted its position in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Schlumberger in the second quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Schlumberger during the second quarter worth about $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SLB shares. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen lowered their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.49 during trading hours on Friday, reaching $41.74. 15,345,710 shares of the company’s stock were exchanged, compared to its average volume of 11,139,995. 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 Limited has a 1 year low of $38.66 and a 1 year high of $57.75. The company has a market cap of $59.66 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The company’s 50 day moving average is $42.86 and its two-hundred day moving average is $45.58.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue 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. Equities research analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

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.