Private Wealth Partners LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

Private Wealth Partners LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 19.2% in the third quarter, Holdings Channel reports. The institutional investor owned 6,205 shares of the oil and gas company’s stock after buying an additional 1,000 shares during the period. Private Wealth Partners LLC’s holdings in Schlumberger were worth $260,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the 2nd quarter valued at about $257,000. National Bank of Canada FI raised its holdings in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares during the period. Mission Wealth Management LP purchased a new position in Schlumberger in the first quarter valued at approximately $245,000. Public Sector Pension Investment Board raised its stake in shares of 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 valued at $89,723,000 after purchasing an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent analyst reports. Citigroup decreased their price target 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. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction 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 transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $39.76 on Friday. 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 has a fifty day simple moving average of $42.44 and a two-hundred day simple moving average of $45.15. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $57.75. The company has a market capitalization of $56.15 billion, a P/E ratio of 12.78, a P/E/G ratio of 1.41 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 last year, the business 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, analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current 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 given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.