12,280 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Copley Financial Group Inc.

Copley Financial Group Inc. bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 12,280 shares of the oil and gas company’s stock, valued at approximately $515,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. ORG Partners LLC raised its position in Schlumberger by 393.5% in the 3rd 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 last quarter. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger during the third quarter valued at approximately $29,000. Unique Wealth Strategies LLC bought a new position in Schlumberger during the second quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the third quarter worth approximately $37,000. Finally, DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

SLB traded down $0.45 during trading on Friday, reaching $40.65. 744,781 shares of the company traded hands, compared to its average volume of 11,095,157. The company has a market cap of $57.40 billion, a P/E ratio of 13.22, a PEG ratio of 1.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm has a fifty day simple moving average of $42.84 and a 200 day simple moving average of $44.05.

Schlumberger (NYSE:SLB) last posted its 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. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. Schlumberger’s dividend payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company dropped their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Three research 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, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.91.

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.