Schlumberger Limited (NYSE:SLB) Shares Purchased by Spinnaker Trust

Spinnaker Trust grew its position in shares of Schlumberger Limited (NYSE:SLB) by 21.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,807 shares of the oil and gas company’s stock after purchasing an additional 4,984 shares during the quarter. Spinnaker Trust’s holdings in Schlumberger were worth $1,167,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Manchester Capital Management LLC lifted its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in 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 valued at $28,000 after buying an additional 392 shares during the period. ORG Partners LLC lifted its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. Finally, Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’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 owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. Evercore ISI decreased their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 4.9 %

Shares of NYSE:SLB traded up $1.99 during trading on Wednesday, hitting $42.54. 6,327,224 shares of the company’s stock traded hands, compared to its average volume of 11,162,116. The company has a 50-day moving average price of $42.25 and a 200-day moving average price of $44.97. Schlumberger Limited has a 52 week low of $38.66 and a 52 week 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 $60.07 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 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 for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.78 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.59%. Schlumberger’s payout ratio is currently 35.37%.

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.