Townsquare Capital LLC Has $1.56 Million Holdings in Schlumberger Limited (NYSE:SLB)

Townsquare Capital LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 25.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,094 shares of the oil and gas company’s stock after acquiring an additional 7,464 shares during the quarter. Townsquare Capital LLC’s holdings in Schlumberger were worth $1,556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC boosted its position in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% in the 2nd 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter worth approximately $29,000. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter valued at $30,000. Finally, Riverview Trust Co raised its position in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Morgan Stanley lowered their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Bank of America lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Citigroup decreased their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Up 0.6 %

NYSE:SLB opened at $43.94 on Monday. The company has a market cap of $62.05 billion, a PE ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. The stock has a 50-day simple moving average of $42.98 and a 200 day simple moving average of $44.36. 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 Limited has a 52-week low of $38.66 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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 company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Schlumberger 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.