Lowe Brockenbrough & Co. Inc. Has $5.37 Million Position in Schlumberger Limited (NYSE:SLB)

Lowe Brockenbrough & Co. Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 17.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 127,113 shares of the oil and gas company’s stock after selling 27,581 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Schlumberger were worth $5,367,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Vanguard Group Inc. grew its position in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the period. Capital World Investors raised its stake in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Legal & General Group Plc grew its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. Finally, Boston Partners increased its holdings in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SLB shares. TD Cowen decreased their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. BMO Capital Markets reduced their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Finally, Bank of America lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were 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 in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $39.76 on Friday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $57.75. The company has a market capitalization of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.41 and a beta of 1.52. The company has a 50-day simple moving average of $42.44 and a 200 day simple moving average of $45.19. 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 issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 earnings per share. On average, sell-side analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed 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. This represents a $1.10 annualized dividend and a yield of 2.77%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 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.