SevenBridge Financial Group LLC Has $317,000 Stake in Schlumberger Limited (NYSE:SLB)

SevenBridge Financial Group LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 6.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,169 shares of the oil and gas company’s stock after buying an additional 450 shares during the period. SevenBridge Financial Group LLC’s holdings in Schlumberger were worth $317,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC grew its stake in shares of Schlumberger by 4.1% during the 1st quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock worth $471,000 after acquiring an additional 337 shares in the last quarter. Lazard Asset Management LLC grew its position in Schlumberger by 18.8% in the first quarter. Lazard Asset Management LLC now owns 14,753 shares of the oil and gas company’s stock valued at $808,000 after purchasing an additional 2,330 shares in the last quarter. Ascent Group LLC increased its stake in Schlumberger by 32.7% in the 1st quarter. Ascent Group LLC now owns 19,075 shares of the oil and gas company’s stock valued at $1,046,000 after buying an additional 4,705 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Schlumberger during the 1st quarter worth about $252,000. Finally, Dynasty Wealth Management LLC acquired a new position in shares of Schlumberger during the 1st quarter worth about $1,247,000. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

SLB opened at $44.23 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business has a fifty day simple moving average of $42.78 and a 200 day simple moving average 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 capitalization of $62.46 billion, a PE ratio of 14.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the firm earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared 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 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLB. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Dbs Bank assumed coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. JPMorgan Chase & Co. dropped 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. Finally, Barclays decreased their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.97.

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.