Dynamic Technology Lab Private Ltd Makes New $2.27 Million Investment in Schlumberger Limited (NYSE:SLB)

Dynamic Technology Lab Private Ltd acquired a new stake in Schlumberger Limited (NYSE:SLB) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 53,985 shares of the oil and gas company’s stock, valued at approximately $2,265,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. ORG Partners LLC grew its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the second quarter valued at about $30,000. Riverview Trust Co raised its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the last quarter. Finally, Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter valued at about $29,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.4 %

Shares of NYSE:SLB opened at $44.23 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $42.78 and a two-hundred day simple moving average of $44.53. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The stock has a market capitalization of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. Schlumberger’s dividend payout ratio is presently 35.37%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Barclays cut their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. TD Cowen decreased their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley dropped their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.