Waverton Investment Management Ltd Buys 116,578 Shares of Schlumberger Limited (NYSE:SLB)

Waverton Investment Management Ltd lifted its holdings in Schlumberger Limited (NYSE:SLB) by 5.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 2,112,864 shares of the oil and gas company’s stock after acquiring an additional 116,578 shares during the quarter. Schlumberger accounts for about 1.5% of Waverton Investment Management Ltd’s holdings, making the stock its 25th biggest holding. Waverton Investment Management Ltd’s holdings in Schlumberger were worth $88,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Loudon Investment Management LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $203,000. Venturi Wealth Management LLC lifted its holdings in shares of Schlumberger by 84.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,294 shares of the oil and gas company’s stock worth $96,000 after acquiring an additional 1,047 shares during the last quarter. Kennebec Savings Bank bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $51,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the 3rd quarter valued at $37,000. Finally, Los Angeles Capital Management LLC raised its holdings in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after buying an additional 63,413 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Citigroup lowered their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $44.29 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a market capitalization of $62.54 billion, a P/E ratio of 14.24, a P/E/G ratio of 1.52 and a beta of 1.52. The firm’s 50 day simple moving average is $42.21 and its two-hundred day simple moving average is $44.84.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating 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 the consensus estimate of $9.27 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions 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 shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

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.