Private Advisor Group LLC Has $6.06 Million Stake in Schlumberger Limited (NYSE:SLB)

Private Advisor Group LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 2.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 144,422 shares of the oil and gas company’s stock after acquiring an additional 3,227 shares during the period. Private Advisor Group LLC’s holdings in Schlumberger were worth $6,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Brookstone Capital Management acquired a new stake in Schlumberger during the 1st quarter worth approximately $1,758,000. Wealthcare Advisory Partners LLC lifted its holdings in Schlumberger by 15.4% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock worth $397,000 after purchasing an additional 965 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in Schlumberger during the 1st quarter worth approximately $27,000. Norris Perne & French LLP MI lifted its holdings in Schlumberger by 7.4% during the 1st quarter. Norris Perne & French LLP MI now owns 4,524 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 312 shares during the last quarter. Finally, Independence Bank of Kentucky lifted its holdings in Schlumberger by 42.8% during the 1st quarter. Independence Bank of Kentucky now owns 14,004 shares of the oil and gas company’s stock worth $768,000 after purchasing an additional 4,200 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SLB has been the subject of several research reports. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Citigroup dropped their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 1.2 %

Shares of SLB opened at $41.74 on Friday. The firm has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $57.75. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The business’s fifty day moving average is $42.92 and its 200-day moving average is $45.72.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.64%. Schlumberger’s dividend payout ratio is currently 36.54%.

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.