Lathrop Investment Management Corp Buys 3,257 Shares of Schlumberger Limited (NYSE:SLB)

Lathrop Investment Management Corp lifted its holdings in Schlumberger Limited (NYSE:SLB) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,297 shares of the oil and gas company’s stock after acquiring an additional 3,257 shares during the quarter. Lathrop Investment Management Corp’s holdings in Schlumberger were worth $7,941,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Price T Rowe Associates Inc. MD increased its stake 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 valued at $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Boston Partners grew its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at $92,944,000. 1832 Asset Management L.P. acquired a new position in shares of Schlumberger in the 2nd quarter valued at $91,364,000. Finally, Legal & General Group Plc boosted its position in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. BMO Capital Markets decreased their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Stock Performance

Shares of SLB opened at $44.10 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 firm has a 50-day moving average of $42.70 and a 200-day moving average of $44.60. The company has a market cap of $62.28 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last released 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the prior year, the company earned $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

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

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.