Commerce Bank Boosts Position in Schlumberger Limited (NYSE:SLB)

Commerce Bank grew its position in Schlumberger Limited (NYSE:SLB) by 1.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,605 shares of the oil and gas company’s stock after buying an additional 958 shares during the quarter. Commerce Bank’s holdings in Schlumberger were worth $2,710,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $11,326,000. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter worth $29,000. Banque Cantonale Vaudoise raised its holdings in shares of Schlumberger by 6.3% in the third quarter. Banque Cantonale Vaudoise now owns 115,450 shares of the oil and gas company’s stock worth $4,843,000 after acquiring an additional 6,853 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its position in shares of Schlumberger by 5.0% in the third quarter. Fifth Third Wealth Advisors LLC now owns 23,500 shares of the oil and gas company’s stock valued at $986,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Schlumberger by 1.9% during the third quarter. Prospera Financial Services Inc now owns 31,811 shares of the oil and gas company’s stock valued at $1,335,000 after acquiring an additional 594 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $44.23 on Friday. The firm has a fifty day moving average of $42.78 and a 200-day moving average of $44.55. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $62.46 billion, a P/E ratio of 14.22, a PEG ratio of 1.56 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.78 EPS. As a group, analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SLB shares. 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. Stifel Nicolaus reissued a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, UBS Group decreased their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

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.