13,200 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Eastern Bank

Eastern Bank purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,200 shares of the oil and gas company’s stock, valued at approximately $554,000.

A number of other large investors have also recently made changes to their positions in the stock. Sequoia Financial Advisors LLC boosted its holdings in Schlumberger by 2.0% in the third quarter. Sequoia Financial Advisors LLC now owns 474,837 shares of the oil and gas company’s stock worth $19,919,000 after purchasing an additional 9,381 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in shares of Schlumberger by 4.8% in the third quarter. Foundations Investment Advisors LLC now owns 8,874 shares of the oil and gas company’s stock worth $372,000 after acquiring an additional 409 shares during the period. Townsend Asset Management Corp NC ADV bought a new stake in shares of Schlumberger in the third quarter worth $2,063,000. Raleigh Capital Management Inc. lifted its holdings in Schlumberger by 17.2% in the third quarter. Raleigh Capital Management Inc. now owns 2,578 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 379 shares during the period. Finally, Everence Capital Management Inc. boosted its position in Schlumberger by 15.6% in the third quarter. Everence Capital Management Inc. now owns 110,926 shares of the oil and gas company’s stock worth $4,653,000 after purchasing an additional 15,000 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.5 %

SLB opened at $42.13 on Thursday. The company has a market capitalization of $59.82 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The firm has a 50-day simple moving average of $43.00 and a two-hundred day simple moving average of $45.75. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $59.05.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SLB. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. JPMorgan Chase & Co. decreased 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. Finally, Wells Fargo & Company reduced their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

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.