Headinvest LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Headinvest LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,897 shares of the oil and gas company’s stock after purchasing an additional 1,555 shares during the period. Headinvest LLC’s holdings in Schlumberger were worth $1,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Financial Advocates Investment Management increased its holdings in Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares during the last quarter. Chilton Capital Management LLC increased its stake in shares of Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the period. First PREMIER Bank lifted its stake in Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 227 shares during the last quarter. Finally, Addison Advisors LLC grew its holdings in Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.96 on Friday. The stock’s 50-day simple moving average is $43.02 and its two-hundred day simple moving average is $44.18. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The firm has a market capitalization of $57.84 billion, a P/E ratio of 13.17, a P/E/G ratio of 1.51 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping 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 company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the business earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets cut their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.97.

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 stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

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.