Schlumberger Limited (NYSE:SLB) Shares Acquired by RiverGlades Family Offices LLC

RiverGlades Family Offices LLC increased its position in Schlumberger Limited (NYSE:SLB) by 9.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,000 shares of the oil and gas company’s stock after purchasing an additional 1,000 shares during the period. RiverGlades Family Offices LLC’s holdings in Schlumberger were worth $503,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crescent Grove Advisors LLC bought a new position in Schlumberger during the 2nd quarter worth $257,000. Victory Capital Management Inc. boosted its position in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after buying an additional 65,318 shares during the period. Concurrent Investment Advisors LLC increased its position in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the period. Public Sector Pension Investment Board raised its stake in Schlumberger by 0.6% during 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 acquiring an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of Schlumberger by 26.0% in the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

NYSE SLB opened at $43.47 on Wednesday. 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. The business has a 50 day simple moving average of $42.89 and a 200 day simple moving average of $44.46. The stock has a market cap of $61.39 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. Analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SLB shares. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Wells Fargo & Company dropped their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Bank of America cut their target price 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. Finally, Citigroup lowered their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

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.