Schlumberger Limited (NYSE:SLB) Shares Acquired by SCP Investment LP

SCP Investment LP raised its stake in Schlumberger Limited (NYSE:SLB) by 40.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,800 shares of the oil and gas company’s stock after purchasing an additional 14,400 shares during the quarter. Schlumberger accounts for about 1.5% of SCP Investment LP’s portfolio, making the stock its 9th biggest position. SCP Investment LP’s holdings in Schlumberger were worth $2,089,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Schlumberger by 395.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after acquiring an additional 621,809 shares during the last quarter. Commerce Bank boosted its position in Schlumberger by 1.5% during the third quarter. Commerce Bank now owns 64,605 shares of the oil and gas company’s stock worth $2,710,000 after purchasing an additional 958 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of Schlumberger in the third quarter worth about $11,326,000. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the third quarter valued at approximately $29,000. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Schlumberger by 6.3% during the 3rd quarter. Banque Cantonale Vaudoise now owns 115,450 shares of the oil and gas company’s stock valued at $4,843,000 after buying an additional 6,853 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLB. Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity at Schlumberger

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 transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 0.9 %

Shares of NYSE SLB opened at $43.10 on Wednesday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm’s 50-day simple moving average is $42.53 and its 200 day simple moving average is $44.61. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a market cap of $60.86 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced 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 annualized dividend and a dividend yield of 2.55%. The ex-dividend date of this dividend 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.