Schlumberger Limited (NYSE:SLB) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 817,771 shares of the oil and gas company’s stock after purchasing an additional 65,318 shares during the period. Victory Capital Management Inc. owned about 0.06% of Schlumberger worth $34,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SLB. Aptus Capital Advisors LLC boosted its stake in shares of Schlumberger by 26.9% in the third quarter. Aptus Capital Advisors LLC now owns 107,170 shares of the oil and gas company’s stock worth $4,496,000 after buying an additional 22,710 shares during the last quarter. Aigen Investment Management LP grew its stake in shares of Schlumberger by 133.9% during the 3rd quarter. Aigen Investment Management LP now owns 28,951 shares of the oil and gas company’s stock worth $1,214,000 after purchasing an additional 16,572 shares during the period. Ashton Thomas Private Wealth LLC increased its holdings in shares of Schlumberger by 13.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 49,479 shares of the oil and gas company’s stock valued at $2,076,000 after purchasing an additional 6,034 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Schlumberger in the 3rd quarter valued at $586,000. Finally, Patron Partners LLC grew its position in Schlumberger by 10.1% during the third quarter. Patron Partners LLC now owns 8,201 shares of the oil and gas company’s stock valued at $344,000 after buying an additional 752 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.6 %

Shares of SLB opened at $43.18 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $42.40 and a 200 day moving average price of $44.71. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company cut their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Finally, Evercore ISI dropped their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.