Schlumberger Limited (NYSE:SLB) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd boosted its holdings in Schlumberger Limited (NYSE:SLB) by 17.3% in the third quarter, HoldingsChannel.com reports. The firm owned 65,117 shares of the oil and gas company’s stock after acquiring an additional 9,581 shares during the period. Vinva Investment Management Ltd’s holdings in Schlumberger were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Jacobs Levy Equity Management Inc. acquired a new position in Schlumberger in the first quarter worth $252,000. B. Riley Wealth Advisors Inc. boosted its holdings in Schlumberger by 55.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 24,800 shares of the oil and gas company’s stock worth $1,452,000 after purchasing an additional 8,829 shares during the period. LRI Investments LLC acquired a new position in Schlumberger in the first quarter worth $80,000. Swedbank AB acquired a new position in Schlumberger in the first quarter worth $28,267,000. Finally, Atria Investments Inc lifted its stake in Schlumberger by 1.9% in the first quarter. Atria Investments Inc now owns 73,617 shares of the oil and gas company’s stock valued at $4,034,000 after buying an additional 1,352 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent research reports. Dbs Bank initiated 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 upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup cut their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Morgan Stanley cut their target price on 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 issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Price Performance

NYSE:SLB opened at $43.66 on Friday. The business’s 50-day moving average price is $42.95 and its 200 day moving average price is $44.45. The firm has a market cap of $61.65 billion, a P/E ratio of 14.04, a PEG ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.52%. Schlumberger’s dividend payout ratio is currently 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.