GM Advisory Group LLC Grows Stake in Schlumberger Limited (NYSE:SLB)

GM Advisory Group LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,701 shares of the oil and gas company’s stock after buying an additional 247 shares during the period. GM Advisory Group LLC’s holdings in Schlumberger were worth $281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bruce G. Allen Investments LLC raised its holdings in 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 worth $28,000 after purchasing an additional 392 shares in the last quarter. ORG Partners LLC raised its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the second quarter worth about $30,000. Riverview Trust Co boosted its position in Schlumberger by 90.6% during the 2nd 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 in the last quarter. Finally, Prospera Private Wealth LLC purchased a new position in shares of Schlumberger during the 3rd quarter worth approximately $29,000. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

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 value of $2,514,000.00. Following the transaction, the executive vice president now directly 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 is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Up 0.4 %

Shares of NYSE:SLB opened at $44.23 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The stock’s fifty day moving average price is $42.78 and its 200-day moving average price is $44.58. The company has a market cap of $62.46 billion, a P/E ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52. 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 posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 quarter in the prior year, the business earned $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The business 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 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wells Fargo & Company lowered their target price 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. Morgan Stanley lowered their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. BMO Capital Markets lowered their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Finally, Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

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.