Primecap Management Co. CA Increases Holdings in Schlumberger Limited (NYSE:SLB)

Primecap Management Co. CA grew its holdings in Schlumberger Limited (NYSE:SLB) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 997,300 shares of the oil and gas company’s stock after buying an additional 5,100 shares during the quarter. Primecap Management Co. CA owned approximately 0.07% of Schlumberger worth $41,837,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC raised its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter worth about $29,000. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $30,000. Finally, Riverview Trust Co increased its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SLB. Bank of America lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays dropped their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. TD Cowen dropped their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Two 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’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $44.10 on Friday. The company has a 50 day moving average of $42.70 and a 200 day moving average of $44.60. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The firm has a market cap of $62.28 billion, a P/E ratio of 14.18, a PEG ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

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.