Schlumberger Limited (NYSE:SLB) Shares Bought by Prospector Partners LLC

Prospector Partners LLC grew its position in Schlumberger Limited (NYSE:SLB) by 13.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,290 shares of the oil and gas company’s stock after buying an additional 30,030 shares during the quarter. Prospector Partners LLC’s holdings in Schlumberger were worth $10,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crescent Grove Advisors LLC acquired a new position in Schlumberger during the second quarter worth about $257,000. Victory Capital Management Inc. lifted its stake in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares during the last quarter. Public Sector Pension Investment Board increased its position in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after buying an additional 63,413 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Barclays cut 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. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

NYSE SLB opened at $43.77 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The firm has a market capitalization of $61.81 billion, a P/E ratio of 14.07, a P/E/G ratio of 1.56 and a beta of 1.52. The business’s 50-day simple moving average is $42.85 and its 200-day simple moving average is $44.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. 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 2.51%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

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.