Exchange Traded Concepts LLC Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Exchange Traded Concepts LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 205.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,636 shares of the oil and gas company’s stock after buying an additional 10,520 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Schlumberger were worth $656,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of SLB. Capital World Investors boosted its stake in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted 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 purchasing an additional 10,606,191 shares during the period. Boston Partners boosted its stake in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger in the second quarter valued at approximately $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Schlumberger in the second quarter valued at approximately $91,364,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 4.7 %

SLB stock opened at $41.92 on Friday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $60.85. The company’s 50 day moving average is $43.10 and its two-hundred day moving average is $46.08. The stock has a market cap of $59.52 billion, a P/E ratio of 13.70, a PEG ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its 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. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.78 EPS. Research analysts expect that Schlumberger Limited will post 3.46 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s payout ratio is 35.95%.

Analysts Set New Price Targets

Several research analysts have recently commented on SLB shares. Evercore ISI raised their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Citigroup reduced their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.97.

Insider Activity

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 in the last ninety days. 0.26% of the stock is currently owned by company insiders.

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.