Financial Management Professionals Inc. Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Financial Management Professionals Inc. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 3.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,335 shares of the oil and gas company’s stock after acquiring an additional 565 shares during the period. Financial Management Professionals Inc.’s holdings in Schlumberger were worth $643,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of SLB. Capital World Investors raised its stake in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Boston Partners raised its holdings in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Schlumberger in the second quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. acquired a new stake in Schlumberger during the 2nd quarter worth about $91,364,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the company’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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $41.74 on Friday. The company has a fifty day simple moving average of $42.86 and a 200-day simple moving average of $45.58. The firm has a market capitalization of $59.66 billion, a price-to-earnings ratio of 13.87, a PEG 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 52-week low of $38.66 and a 52-week 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 the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently commented on SLB shares. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. UBS Group cut their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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, Wells Fargo & Company cut their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

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.