Catalina Capital Group LLC Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Catalina Capital Group LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,556 shares of the oil and gas company’s stock after acquiring an additional 303 shares during the period. Catalina Capital Group LLC’s holdings in Schlumberger were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLB. Vanguard Group Inc. increased its position in shares of Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the last quarter. Capital World Investors raised its position in shares of 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 valued at $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Schlumberger by 14.1% during 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. Legal & General Group Plc increased its stake in 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 purchasing an additional 1,560,684 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SLB shares. UBS Group reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’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 in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Up 0.6 %

Shares of SLB stock opened at $40.55 on Wednesday. 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 50 day simple moving average is $42.25 and its 200 day simple moving average is $44.97. The company has a market capitalization of $57.26 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.47.

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 company had revenue of $9.16 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, research analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Schlumberger 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.