Financial Management Professionals Inc. Grows Position in Schlumberger Limited (NYSE:SLB)

Financial Management Professionals Inc. increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.8% in the third quarter, Holdings Channel reports. The firm owned 15,335 shares of the oil and gas company’s stock after buying an additional 565 shares during the period. Financial Management Professionals Inc.’s holdings in Schlumberger were worth $643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. ORG Partners LLC lifted its stake in 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 in the last quarter. Register Financial Advisors LLC purchased a new position in Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $30,000. Finally, Manchester Capital Management LLC boosted its stake 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 valued at $31,000 after purchasing an additional 426 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLB shares. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Evercore ISI cut their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the 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 of the company’s stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 1.2 %

Schlumberger stock opened at $41.74 on Friday. The stock has a 50-day simple moving average of $42.86 and a 200-day simple moving average of $45.58. The company 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 company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $57.75.

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, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the company earned $0.78 earnings per share. Equities research analysts expect that Schlumberger Limited will post 3.41 earnings per share for the current year.

Schlumberger Dividend Announcement

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

Schlumberger Company 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.