Nomura Asset Management Co. Ltd. Purchases 46,924 Shares of Schlumberger Limited (NYSE:SLB)

Nomura Asset Management Co. Ltd. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 10.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 497,169 shares of the oil and gas company’s stock after buying an additional 46,924 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Schlumberger were worth $20,856,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the third quarter worth $37,000. Finally, DiNuzzo Private Wealth Inc. lifted its stake in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $40.88 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The stock has a market cap of $57.72 billion, a PE ratio of 13.14, a P/E/G ratio of 1.45 and a beta of 1.51. The company has a 50-day moving average price of $43.01 and a 200 day moving average price of $44.13.

Schlumberger (NYSE:SLB) last released its 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 analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share 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 given 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 payout ratio is presently 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SLB shares. BMO Capital Markets decreased their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Finally, Morgan Stanley reduced their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.91.

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.