GM Advisory Group LLC Boosts Stake in Schlumberger Limited (NYSE:SLB)

GM Advisory Group LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,701 shares of the oil and gas company’s stock after purchasing an additional 247 shares during the period. GM Advisory Group LLC’s holdings in Schlumberger were worth $281,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC raised 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 worth $28,000 after acquiring an additional 392 shares during the period. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter valued at approximately $29,000. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the second quarter valued at approximately $30,000. Finally, Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% in the second 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 during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was 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 in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

A number of research analysts recently weighed in on SLB shares. Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. UBS Group lowered their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Wells Fargo & Company lowered their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Finally, TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Performance

NYSE SLB opened at $44.23 on Friday. The company has a market cap of $62.46 billion, a P/E ratio of 14.22, a P/E/G ratio of 1.56 and a beta of 1.52. The business’s 50 day moving average price is $42.78 and its 200-day moving average price is $44.58. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two 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.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 the consensus estimate of $9.27 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. Schlumberger’s dividend payout ratio (DPR) is presently 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.