Schlumberger Limited (NYSE:SLB) Holdings Raised by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,362,494 shares of the oil and gas company’s stock after purchasing an additional 319,968 shares during the quarter. Douglas Lane & Associates LLC owned approximately 0.10% of Schlumberger worth $52,238,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the third quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLB. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Evercore ISI reduced their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Citigroup reduced their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.58.

Schlumberger Stock Performance

SLB stock traded down $0.70 during trading hours on Wednesday, hitting $38.67. 6,701,692 shares of the stock were exchanged, compared to its average volume of 9,201,872. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $54.61 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.42 and a beta of 1.52. The company has a 50-day simple moving average of $41.05 and a two-hundred day simple moving average of $43.22.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’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 company posted $0.78 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

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.