Schlumberger Limited (NYSE:SLB) Shares Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. raised its holdings in Schlumberger Limited (NYSE:SLB) by 122.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,495 shares of the oil and gas company’s stock after buying an additional 16,783 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Schlumberger were worth $1,279,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SLB. Capital World Investors boosted its stake in Schlumberger by 72.3% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 14.1% in the first 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 lifted 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 worth $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Schlumberger in the 2nd quarter valued at $91,364,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This 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 this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.3 %

Shares of SLB opened at $43.45 on Friday. The stock has a 50 day moving average price of $42.31 and a 200 day moving average price of $44.76. The stock has a market capitalization of $61.36 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.54 and a beta of 1.52. 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 one year low of $38.66 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 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 revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Ratings Changes

Several analysts have weighed in on the company. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. 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. Citigroup cut their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday. Two 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.