Schlumberger Limited (NYSE:SLB) Shares Bought by Financial Counselors Inc.

Financial Counselors Inc. lifted its position in Schlumberger Limited (NYSE:SLB) by 25.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 337,431 shares of the oil and gas company’s stock after acquiring an additional 67,938 shares during the period. Financial Counselors Inc.’s holdings in Schlumberger were worth $14,155,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in SLB. Jacobs Levy Equity Management Inc. acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $252,000. B. Riley Wealth Advisors Inc. grew its position in shares of Schlumberger by 55.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 24,800 shares of the oil and gas company’s stock worth $1,452,000 after acquiring an additional 8,829 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $80,000. Swedbank AB acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $28,267,000. Finally, Atria Investments Inc grew its position in shares of Schlumberger by 1.9% in the 1st quarter. Atria Investments Inc now owns 73,617 shares of the oil and gas company’s stock worth $4,034,000 after acquiring an additional 1,352 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $43.66 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year 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. The company has a market capitalization of $61.65 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.54 and a beta of 1.52. The stock’s fifty day simple moving average is $42.95 and its 200-day simple moving average is $44.45.

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

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s 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 owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SLB. Morgan Stanley cut their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, UBS Group cut their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two investment 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 company’s stock. According to data from MarketBeat, Schlumberger 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.