Schlumberger Limited (NYSE:SLB) Shares Acquired by Ingalls & Snyder LLC

Ingalls & Snyder LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,630 shares of the oil and gas company’s stock after purchasing an additional 828 shares during the quarter. Ingalls & Snyder LLC’s holdings in Schlumberger were worth $698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter valued at $92,944,000. 1832 Asset Management L.P. acquired a new stake in Schlumberger during the 2nd quarter worth about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of 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 purchasing an additional 1,560,684 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.1 %

Shares of SLB stock opened at $43.66 on Wednesday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock’s fifty day moving average is $43.01 and its two-hundred day moving average is $44.29. The firm has a market capitalization of $61.65 billion, a P/E ratio of 14.04, a PEG ratio of 1.54 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. Research analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price target (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

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.