Childress Capital Advisors LLC Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Childress Capital Advisors LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 146.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,948 shares of the oil and gas company’s stock after purchasing an additional 6,506 shares during the quarter. Childress Capital Advisors LLC’s holdings in Schlumberger were worth $459,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Financial Advocates Investment Management raised its position in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its stake in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the last quarter. First PREMIER Bank lifted its position in shares of Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares in the last quarter. Finally, Team Hewins LLC boosted its stake in shares of Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after acquiring an additional 229 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Barclays decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.43 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market cap of $57.79 billion, a P/E ratio of 13.43, a P/E/G ratio of 1.47 and a beta of 1.51. The firm’s 50 day moving average price is $42.71 and its 200-day moving average price is $45.35. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities research analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend 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.