Segall Bryant & Hamill LLC Invests $11.33 Million in Schlumberger Limited (NYSE:SLB)

Segall Bryant & Hamill LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) in the third quarter, Holdings Channel.com reports. The firm acquired 269,995 shares of the oil and gas company’s stock, valued at approximately $11,326,000.

Several other hedge funds also recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at $257,000. Victory Capital Management Inc. boosted its stake in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the period. Concurrent Investment Advisors LLC boosted its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares during the period. Public Sector Pension Investment Board grew its position in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after buying an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $43.53 on Thursday. The stock has a market capitalization of $61.47 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. 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 business’s 50 day simple moving average is $42.61 and its two-hundred day simple moving average is $44.60.

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

Schlumberger Announces Dividend

The company 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 dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the company’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 transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Evercore ISI cut their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. UBS Group lowered their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Citigroup cut their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Company 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.