AM Squared Ltd Increases Position in Schlumberger Limited (NYSE:SLB)

AM Squared Ltd lifted its holdings in Schlumberger Limited (NYSE:SLB) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,000 shares of the oil and gas company’s stock after purchasing an additional 700 shares during the period. Schlumberger comprises about 0.5% of AM Squared Ltd’s portfolio, making the stock its 17th largest holding. AM Squared Ltd’s holdings in Schlumberger were worth $210,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC increased its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at about $30,000. Riverview Trust Co increased its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Finally, First Community Trust NA increased its stake in shares of Schlumberger by 264.0% in the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SLB. Wells Fargo & Company cut their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Evercore ISI cut their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was 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 owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Down 0.6 %

Schlumberger stock opened at $43.18 on Friday. The firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.52 and a beta of 1.52. The stock’s fifty day simple moving average is $42.40 and its 200-day simple moving average is $44.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last posted 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 analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’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 company posted $0.78 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.