Jmac Enterprises LLC Invests $206,000 in Schlumberger Limited (NYSE:SLB)

Jmac Enterprises LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,900 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other institutional investors have also modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in shares of Schlumberger by 8.0% during the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after acquiring an additional 332,500 shares during the period. Graypoint LLC raised its holdings in shares of Schlumberger by 3.4% during the 3rd quarter. Graypoint LLC now owns 9,536 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 311 shares during the period. Spinnaker Trust increased its position in shares of Schlumberger by 21.8% during the 3rd quarter. Spinnaker Trust now owns 27,807 shares of the oil and gas company’s stock worth $1,167,000 after purchasing an additional 4,984 shares during the last quarter. Consilium Wealth Advisory LLC increased its position in shares of Schlumberger by 6.7% during the 3rd quarter. Consilium Wealth Advisory LLC now owns 16,302 shares of the oil and gas company’s stock worth $684,000 after purchasing an additional 1,017 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SLB. Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Barclays cut their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Wells Fargo & Company cut their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $43.24 on Friday. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The company has a market cap of $61.06 billion, a PE ratio of 13.90, a P/E/G ratio of 1.42 and a beta of 1.52. 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 business has a 50-day simple moving average of $42.25 and a 200-day simple moving average of $44.96.

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

Schlumberger Dividend Announcement

The firm 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In other Schlumberger 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 owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.26% of the stock is owned by company insiders.

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.