Schlumberger Limited (NYSE:SLB) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 1.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 72,661 shares of the oil and gas company’s stock after buying an additional 721 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Schlumberger were worth $3,048,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the last quarter. Legal & General Group Plc lifted 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 buying an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Van ECK Associates Corp lifted its stake in Schlumberger by 1.2% in 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 buying an additional 100,477 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after buying an additional 31,718 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated 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 directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Citigroup cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday. Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen cut their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

Schlumberger Trading Down 0.7 %

NYSE SLB opened at $40.88 on Wednesday. The firm’s 50 day moving average price is $43.01 and its two-hundred day moving average price is $44.13. 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 twelve month low of $38.66 and a twelve month high of $55.69. The stock has a market cap of $57.72 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.45 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is presently 35.37%.

Schlumberger Company 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.