Fifth Third Wealth Advisors LLC Purchases 1,125 Shares of Schlumberger Limited (NYSE:SLB)

Fifth Third Wealth Advisors LLC raised its position in Schlumberger Limited (NYSE:SLB) by 5.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,500 shares of the oil and gas company’s stock after buying an additional 1,125 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Schlumberger were worth $986,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLB. Prospera Financial Services Inc raised its stake in Schlumberger by 1.9% in the 3rd quarter. Prospera Financial Services Inc now owns 31,811 shares of the oil and gas company’s stock valued at $1,335,000 after acquiring an additional 594 shares during the period. Knuff & Co LLC increased its stake in shares of Schlumberger by 10.6% in the third quarter. Knuff & Co LLC now owns 9,810 shares of the oil and gas company’s stock worth $412,000 after purchasing an additional 940 shares in the last quarter. Pathstone Holdings LLC raised its position in shares of Schlumberger by 3.6% in the third quarter. Pathstone Holdings LLC now owns 148,635 shares of the oil and gas company’s stock valued at $6,240,000 after purchasing an additional 5,105 shares during the period. Islay Capital Management LLC lifted its stake in shares of Schlumberger by 4,952.4% during the 3rd quarter. Islay Capital Management LLC now owns 26,525 shares of the oil and gas company’s stock valued at $1,113,000 after buying an additional 26,000 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Schlumberger by 0.7% in the 3rd quarter. Swiss National Bank now owns 4,242,627 shares of the oil and gas company’s stock worth $177,978,000 after buying an additional 29,200 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $43.10 on Wednesday. The company’s fifty day moving average is $42.53 and its 200 day moving average is $44.61. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The stock has a market cap of $60.86 billion, a PE ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its 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. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Research analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SLB shares. BMO Capital Markets lowered their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. 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. Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Evercore ISI decreased their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Two investment 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 company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.