Schlumberger Limited (NYSE:SLB) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI raised its position in Schlumberger Limited (NYSE:SLB) by 77.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 866,249 shares of the oil and gas company’s stock after acquiring an additional 379,385 shares during the quarter. National Bank of Canada FI owned 0.06% of Schlumberger worth $36,339,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Schlumberger by 1.2% in the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock worth $404,985,000 after acquiring an additional 100,477 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average 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 the company’s stock in a transaction dated Thursday, October 24th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.96 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 firm has a market capitalization of $57.84 billion, a PE ratio of 13.17, a P/E/G ratio of 1.45 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The business’s fifty day moving average price is $43.02 and its two-hundred day moving average price is $44.17.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, research analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.69%. Schlumberger’s dividend payout ratio is presently 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.