SCP Investment LP Raises Position in Schlumberger Limited (NYSE:SLB)

SCP Investment LP lifted its stake in Schlumberger Limited (NYSE:SLB) by 40.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,800 shares of the oil and gas company’s stock after acquiring an additional 14,400 shares during the period. Schlumberger makes up about 1.5% of SCP Investment LP’s holdings, making the stock its 9th largest holding. SCP Investment LP’s holdings in Schlumberger were worth $2,089,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crescent Grove Advisors LLC purchased a new stake in Schlumberger in the second quarter valued at approximately $257,000. Victory Capital Management Inc. grew its position in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. National Bank of Canada FI raised its position in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Concurrent Investment Advisors LLC lifted its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its position in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SLB has been the subject of several analyst reports. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Down 0.9 %

Shares of NYSE SLB opened at $43.10 on Wednesday. The stock has a market cap of $60.86 billion, a P/E ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.52. The business’s fifty day simple moving average is $42.53 and its 200-day simple moving average is $44.61. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. 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 (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s payout ratio is 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by insiders.

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.