Arosa Capital Management LP Invests $839,000 in Schlumberger Limited (NYSE:SLB)

Arosa Capital Management LP purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,000 shares of the oil and gas company’s stock, valued at approximately $839,000.

Several other large investors have also recently added to or reduced their stakes in SLB. Legal & General Group Plc boosted its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after acquiring an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Schlumberger by 1.2% during the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after acquiring an additional 100,477 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after acquiring an additional 31,718 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB opened at $43.94 on Monday. The firm has a fifty day simple moving average of $42.98 and a 200 day simple moving average of $44.36. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The stock has a market capitalization of $62.05 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.55 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 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s 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 directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade 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 can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. TD Cowen decreased their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. JPMorgan Chase & Co. lowered their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Barclays reduced their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Susquehanna dropped 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. Finally, BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.