Transamerica Financial Advisors Inc. Grows Stake in Schlumberger Limited (NYSE:SLB)

Transamerica Financial Advisors Inc. raised its stake in Schlumberger Limited (NYSE:SLB) by 100.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,622 shares of the oil and gas company’s stock after purchasing an additional 3,314 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Schlumberger were worth $278,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SLB. ORG Partners LLC increased its position in shares of 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 acquiring an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew its stake 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 worth $28,000 after purchasing an additional 392 shares in the last quarter. Prospera Private Wealth LLC acquired a new position in Schlumberger in the third quarter valued at approximately $29,000. Unique Wealth Strategies LLC acquired a new position in Schlumberger in the second quarter valued at approximately $30,000. Finally, Riverview Trust Co boosted its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Citigroup dropped their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Dbs Bank initiated coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Finally, Wells Fargo & Company dropped their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Down 0.6 %

NYSE SLB opened at $43.47 on Wednesday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. 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. The firm’s 50 day moving average price is $42.89 and its two-hundred day moving average price is $44.46.

Schlumberger (NYSE:SLB) last posted its quarterly 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. 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 in the previous year, the company posted $0.78 EPS. Schlumberger’s revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

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.