Cornerstone Wealth Group LLC Acquires 4,070 Shares of Schlumberger Limited (NYSE:SLB)

Cornerstone Wealth Group LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.0% in the third quarter, Holdings Channel.com reports. The firm owned 62,549 shares of the oil and gas company’s stock after purchasing an additional 4,070 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Schlumberger were worth $2,624,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SLB. Capital World Investors increased its stake in Schlumberger by 72.3% during 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 purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 14.1% during the 1st 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 in the last quarter. Boston Partners boosted its position in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Schlumberger during the 2nd quarter worth approximately $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in Schlumberger during the 2nd quarter worth approximately $91,364,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 0.7 %

Shares of Schlumberger stock opened at $40.16 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $57.40 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.47 and a beta of 1.51. The business has a fifty day simple moving average of $42.63 and a two-hundred day simple moving average of $45.31. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $57.75.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 EPS. Research analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLB shares. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. BMO Capital Markets reduced their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. TD Cowen reduced their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, Barclays cut their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.