Brown Financial Advisors Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Brown Financial Advisors lifted its holdings in Schlumberger Limited (NYSE:SLB) by 67.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,930 shares of the oil and gas company’s stock after acquiring an additional 11,222 shares during the period. Brown Financial Advisors’ holdings in Schlumberger were worth $1,172,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Coldstream Capital Management Inc. increased its holdings in Schlumberger by 7.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 25,203 shares of the oil and gas company’s stock valued at $1,058,000 after purchasing an additional 1,662 shares in the last quarter. First Dallas Securities Inc. boosted its position in shares of Schlumberger by 85.8% in the third quarter. First Dallas Securities Inc. now owns 9,850 shares of the oil and gas company’s stock worth $413,000 after buying an additional 4,550 shares during the period. Geode Capital Management LLC grew its stake in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after buying an additional 239,966 shares in the last quarter. Savoie Capital LLC acquired a new stake in shares of Schlumberger in the third quarter valued at about $1,045,000. Finally, Impala Asset Management LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $6,041,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several recent research reports. Citigroup lowered their price objective on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. UBS Group decreased their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $60.91.

Insider Transactions at Schlumberger

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 completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.7 %

SLB stock opened at $40.88 on Wednesday. The firm has a market cap of $57.72 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.45 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The firm has a fifty day moving average price of $43.01 and a two-hundred day moving average price of $44.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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

Schlumberger Dividend Announcement

The business also recently announced 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 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 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.