BKM Wealth Management LLC Acquires Shares of 13,147 Schlumberger Limited (NYSE:SLB)

BKM Wealth Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,147 shares of the oil and gas company’s stock, valued at approximately $552,000.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on SLB shares. Citigroup reduced their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Insider Buying and Selling at Schlumberger

In other 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of SLB opened at $41.74 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $57.75. The stock has a market capitalization of $59.66 billion, a PE ratio of 13.87, a PEG ratio of 1.48 and a beta of 1.51. 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 50-day simple moving average of $42.92 and a 200-day simple moving average of $45.72.

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, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 3.41 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced 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. This represents a $1.10 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.