Schrum Private Wealth Management LLC Raises Position in Schlumberger Limited (NYSE:SLB)

Schrum Private Wealth Management LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 59.8% during the third quarter, Holdings Channel reports. The fund owned 19,448 shares of the oil and gas company’s stock after purchasing an additional 7,279 shares during the period. Schrum Private Wealth Management LLC’s holdings in Schlumberger were worth $816,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC grew its stake in Schlumberger by 393.5% in the third 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 during the period. Bruce G. Allen Investments LLC grew its position in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the 2nd quarter worth about $30,000. Riverview Trust Co lifted its position in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Finally, First Community Trust NA boosted its stake in Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 528 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB stock traded down $0.87 on Wednesday, hitting $43.46. The company had a trading volume of 3,076,340 shares, compared to its average volume of 11,256,864. The stock has a market cap of $61.37 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.56 and a beta of 1.52. 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 stock’s 50-day simple moving average is $42.26 and its 200 day simple moving average is $44.77. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate 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 was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. As a group, equities research analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared 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. This represents a $1.10 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Evercore ISI dropped 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. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.