BKM Wealth Management LLC Purchases New Position in Schlumberger Limited (NYSE:SLB)

BKM Wealth Management LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 13,147 shares of the oil and gas company’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors increased its holdings in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Legal & General Group Plc boosted its stake in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the period. Finally, Boston Partners grew its position in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 1.2 %

Shares of SLB opened at $41.74 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.75. 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 firm has a market capitalization of $59.66 billion, a P/E ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. The firm’s 50-day moving average is $42.92 and its two-hundred day moving average is $45.72.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business 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 company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. On average, research analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Barclays dropped their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Evercore ISI decreased their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Bank of America lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger 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.