Fiduciary Trust Co Has $2.40 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Fiduciary Trust Co lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 25.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,084 shares of the oil and gas company’s stock after acquiring an additional 11,714 shares during the period. Fiduciary Trust Co’s holdings in Schlumberger were worth $2,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC lifted its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth $29,000. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger during the second quarter valued at about $30,000. Finally, Riverview Trust Co grew its position in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SLB shares. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. 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 note on Monday, October 21st. Finally, BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

Shares of SLB opened at $43.94 on Friday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. 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 company has a market cap of $62.05 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The stock has a 50-day moving average price of $42.98 and a 200-day moving average price of $44.41.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.27 billion. During the same period in the previous year, the business posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Company 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.