PVG Asset Management Corp Invests $386,000 in Schlumberger Limited (NYSE:SLB)

PVG Asset Management Corp acquired a new position in Schlumberger Limited (NYSE:SLB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,196 shares of the oil and gas company’s stock, valued at approximately $386,000. Schlumberger accounts for approximately 1.5% of PVG Asset Management Corp’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors have also added to or reduced their stakes in SLB. Ceredex Value Advisors LLC purchased a new position in Schlumberger during the 2nd quarter valued at $92,944,000. 1832 Asset Management L.P. purchased a new stake in Schlumberger in the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% during the third 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 worth $470,425,000 after acquiring an additional 1,916,851 shares during the period. Legal & General Group Plc raised its stake in shares of Schlumberger by 14.0% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock traded down $0.42 during trading hours on Thursday, hitting $41.14. The company’s stock had a trading volume of 293,412 shares, compared to its average volume of 11,110,456. 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 50 day moving average of $42.91 and a 200 day moving average of $44.07. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The stock has a market cap of $58.10 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Citigroup reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a report on Monday. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.91.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the business’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 completion of the sale, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by insiders.

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.