S&CO Inc. Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

S&CO Inc. grew its stake in Schlumberger Limited (NYSE:SLB) by 51.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,750 shares of the oil and gas company’s stock after purchasing an additional 2,300 shares during the period. S&CO Inc.’s holdings in Schlumberger were worth $283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Crescent Grove Advisors LLC acquired a new position in Schlumberger in the second quarter valued at approximately $257,000. National Bank of Canada FI lifted its stake in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.6 %

Schlumberger stock opened at $43.18 on Friday. The company has a 50 day moving average price of $42.40 and a 200 day moving average price of $44.69. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. 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 capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a P/E/G 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current 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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets decreased their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.26% of the stock is owned by insiders.

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.