Penserra Capital Management LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

Penserra Capital Management LLC raised its position in Schlumberger Limited (NYSE:SLB) by 9,041.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,696 shares of the oil and gas company’s stock after acquiring an additional 10,579 shares during the quarter. Penserra Capital Management LLC’s holdings in Schlumberger were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SLB. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger in the third quarter worth approximately $29,000. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the second quarter worth approximately $30,000. Finally, Riverview Trust Co raised its holdings in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SLB shares. 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 report on Monday, October 14th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, BMO Capital Markets cut their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $43.66 on Friday. The firm has a market capitalization of $61.65 billion, a P/E ratio of 14.04, a PEG ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The company’s fifty day moving average is $42.95 and its two-hundred day moving average is $44.45. 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 (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.27 billion. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm 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 $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s dividend 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.