Schlumberger Limited (NYSE:SLB) Shares Purchased by BluePath Capital Management LLC

BluePath Capital Management LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 30.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,856 shares of the oil and gas company’s stock after buying an additional 3,957 shares during the period. BluePath Capital Management LLC’s holdings in Schlumberger were worth $707,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the second quarter worth $257,000. National Bank of Canada FI boosted its position in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in shares of Schlumberger in the 1st quarter valued at $245,000. Public Sector Pension Investment Board boosted its position in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after acquiring an additional 64,974 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.8 %

Shares of SLB opened at $39.76 on Friday. 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. The firm has a market capitalization of $56.15 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52. The stock’s fifty day simple moving average is $42.44 and its 200-day simple moving average is $45.19.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SLB shares. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. 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 initiated coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Citigroup decreased their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two equities research 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, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was 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 directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.