49,188 Shares in Schlumberger Limited (NYSE:SLB) Bought by Townsend Asset Management Corp NC ADV

Townsend Asset Management Corp NC ADV acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 49,188 shares of the oil and gas company’s stock, valued at approximately $2,063,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the last quarter. Capital World Investors lifted its position in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted 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 last quarter. Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Finally, Boston Partners raised its stake in Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SLB shares. Dbs Bank assumed coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday. Evercore ISI lowered their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday. Finally, UBS Group cut their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.03.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.43 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a one year low of $38.66 and a one year high of $59.05. The company has a 50-day simple moving average of $43.07 and a 200-day simple moving average of $45.87. The stock has a market capitalization of $60.24 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, analysts predict that Schlumberger Limited will post 3.44 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. Schlumberger’s 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.