Douglas Lane & Associates LLC Buys 156,492 Shares of Schlumberger Limited (NYSE:SLB)

Douglas Lane & Associates LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,042,526 shares of the oil and gas company’s stock after acquiring an additional 156,492 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.07% of Schlumberger worth $43,734,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% in the 2nd 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 during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. 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 currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Bank of America dropped their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus decreased their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company decreased their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Susquehanna decreased their price target on Schlumberger from $70.00 to $60.00 and set a “positive” rating on the stock in a report on Friday. Finally, Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.42.

Schlumberger Stock Up 0.4 %

Shares of SLB traded up $0.18 during midday trading on Friday, reaching $44.78. 8,892,291 shares of the stock were exchanged, compared to its average volume of 11,058,981. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $43.10 and its two-hundred day moving average is $46.42. The company has a market capitalization of $64.01 billion, a P/E ratio of 14.88, a PEG ratio of 0.95 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.47 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Wednesday, September 4th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

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.