Stratos Investment Management LLC Increases Stake in Schlumberger Limited (NYSE:SLB)

Stratos Investment Management LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 6.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 70,427 shares of the oil and gas company’s stock after purchasing an additional 4,014 shares during the quarter. Stratos Investment Management LLC’s holdings in Schlumberger were worth $2,954,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLB. Capital World Investors grew its stake in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% in the 1st 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 buying an additional 10,606,191 shares during the last quarter. Boston Partners increased its stake in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Schlumberger during the second quarter valued at approximately $91,364,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $41.92 on Friday. The company has a market capitalization of $59.52 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $60.85. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average of $43.10 and a 200 day moving average of $46.08.

Schlumberger (NYSE:SLB) last posted its earnings results 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 21.92% and a net margin of 12.56%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the company earned $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.46 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s payout ratio is presently 35.95%.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 over the last three months. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. TD Cowen raised their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.97.

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.