First Horizon Advisors Inc. Has $729,000 Stake in Schlumberger Limited (NYSE:SLB)

First Horizon Advisors Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,375 shares of the oil and gas company’s stock after purchasing an additional 414 shares during the quarter. First Horizon Advisors Inc.’s holdings in Schlumberger were worth $729,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $4,712,897,000 after buying an additional 10,606,191 shares during the period. Boston Partners grew its position in shares of Schlumberger by 35.8% in the 1st 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 last quarter. Ceredex Value Advisors LLC bought a new position in shares of Schlumberger in the 2nd quarter worth about $92,944,000. 1832 Asset Management L.P. bought a new stake in Schlumberger in the 2nd quarter valued at about $91,364,000. Finally, Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $44.10 on Friday. The stock has a market capitalization of $62.28 billion, a PE ratio of 14.18, a PEG ratio of 1.52 and a beta of 1.52. The company has a 50 day moving average price of $42.70 and a 200-day moving average price of $44.60. 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 fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last announced its 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 for 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 business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. Equities analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SLB shares. Morgan Stanley reduced their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Wells Fargo & Company reduced their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.