Schlumberger Limited (NYSE:SLB) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 3.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,504 shares of the oil and gas company’s stock after buying an additional 536 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Schlumberger were worth $650,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger in the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC raised its position 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 valued at $28,000 after purchasing an additional 392 shares during the period. ORG Partners LLC lifted its stake 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 in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new position in Schlumberger during the second quarter worth $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research analyst reports. Dbs Bank initiated coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective on the stock. Bank of America cut their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, TD Cowen reduced their target price 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. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.74 on Monday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market capitalization of $59.66 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The business’s fifty day moving average price is $42.86 and its 200 day moving average price is $45.52.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.64%. Schlumberger’s payout ratio is currently 36.54%.

About Schlumberger

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.