Schlumberger Limited (NYSE:SLB) Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,720 shares of the oil and gas company’s stock after buying an additional 1,566 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Schlumberger were worth $1,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. Capital World Investors boosted its position in shares of 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 valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 acquiring an additional 10,606,191 shares during the last quarter. Boston Partners increased its holdings in shares of Schlumberger by 35.8% in 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 acquiring an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Schlumberger in the 2nd quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. acquired a new stake in Schlumberger during the 2nd quarter worth $91,364,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Citigroup decreased their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. TD Cowen dropped their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Evercore ISI decreased their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, Morgan Stanley dropped their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Stock Performance

Shares of SLB stock opened at $43.78 on Thursday. The stock has a fifty day moving average price of $42.25 and a 200 day moving average price of $44.96. 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 has a market cap of $61.82 billion, a PE ratio of 14.08, a P/E/G ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS. Sell-side analysts forecast that Schlumberger Limited will post 3.4 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. Investors 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 yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

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.