Dakota Wealth Management Has $1.71 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Dakota Wealth Management cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,699 shares of the oil and gas company’s stock after selling 1,419 shares during the period. Dakota Wealth Management’s holdings in Schlumberger were worth $1,707,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Capital World Investors raised its position in 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 purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Boston Partners raised its position in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC acquired a new position in Schlumberger during the 2nd quarter worth about $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $91,364,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 1.2 %

SLB stock opened at $41.74 on Friday. The company’s 50 day moving average is $42.86 and its 200 day moving average is $45.64. The stock has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. 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 1-year low of $38.66 and a 1-year high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings results 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.41 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis 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%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. JPMorgan Chase & Co. reduced their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. UBS Group dropped their target price 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. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.