Assenagon Asset Management S.A. Increases Position in Schlumberger Limited (NYSE:SLB)

Assenagon Asset Management S.A. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 6.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,548 shares of the oil and gas company’s stock after purchasing an additional 2,986 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Schlumberger were worth $1,995,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC grew its holdings 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 purchasing an additional 484 shares during the period. Bruce G. Allen Investments LLC grew its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co grew its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SLB shares. Evercore ISI cut their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Bank of America cut their price target 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. UBS Group cut their price target 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. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a research 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 assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.2 %

SLB opened at $40.08 on Friday. 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. The company has a market capitalization of $57.29 billion, a PE ratio of 13.32, a PEG ratio of 1.47 and a beta of 1.51. The firm’s 50 day simple moving average is $42.55 and its two-hundred day simple moving average is $45.27.

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, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.74%. Schlumberger’s payout ratio is 36.54%.

Schlumberger Company 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.