Wilmington Savings Fund Society FSB Increases Position in Schlumberger Limited (NYSE:SLB)

Wilmington Savings Fund Society FSB increased its holdings in Schlumberger Limited (NYSE:SLB) by 27.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 76,838 shares of the oil and gas company’s stock after purchasing an additional 16,350 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Schlumberger were worth $3,223,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Crescent Grove Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter worth about $257,000. Teachers Retirement System of The State of Kentucky increased its stake in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 2.1 %

Shares of SLB opened at $40.22 on Friday. The company’s 50-day moving average price is $42.73 and its 200 day moving average price is $44.01. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $56.80 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released 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 net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger’s payout ratio is presently 35.37%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Morgan Stanley reduced their target price 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. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America decreased their target price 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. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.91.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.26% of the company’s stock.

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.