Grimes & Company Inc. Has $9.99 Million Holdings in Schlumberger Limited (NYSE:SLB)

Grimes & Company Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 3.5% in the third quarter, Holdings Channel reports. The institutional investor owned 238,173 shares of the oil and gas company’s stock after buying an additional 8,072 shares during the period. Grimes & Company Inc.’s holdings in Schlumberger were worth $9,991,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLB. Capital World Investors increased its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners lifted its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Schlumberger during the 2nd quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger in the 2nd quarter worth approximately $91,364,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB traded down $0.32 during midday trading on Thursday, hitting $41.81. 904,826 shares of the stock were exchanged, compared to its average volume of 11,056,642. The company has a market capitalization of $59.36 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75. The business has a 50-day moving average price of $43.00 and a two-hundred day moving average price of $45.75. 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 posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 annualized dividend and a yield of 2.63%. Schlumberger’s dividend payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday. TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Finally, Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Schlumberger presently 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.