PFG Investments LLC Buys 9,907 Shares of Schlumberger Limited (NYSE:SLB)

PFG Investments LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 63.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,641 shares of the oil and gas company’s stock after purchasing an additional 9,907 shares during the quarter. PFG Investments LLC’s holdings in Schlumberger were worth $1,076,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new position in Schlumberger during the first quarter worth $27,000. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in 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 valued at $28,000 after purchasing an additional 392 shares during the last quarter. ORG Partners LLC grew its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Finally, Unique Wealth Strategies LLC acquired a new position in Schlumberger during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on SLB shares. UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. TD Cowen lowered their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Finally, Citigroup reduced their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Price Performance

SLB stock opened at $41.74 on Monday. The company’s 50-day moving average price is $42.86 and its two-hundred day moving average price is $45.52. The firm has a market cap of $59.66 billion, a P/E ratio of 13.87, a P/E/G ratio of 1.48 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75.

Schlumberger (NYSE:SLB) last announced 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 business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.41 earnings per share 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 dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by 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.