Financial Advocates Investment Management Acquires 753 Shares of Schlumberger Limited (NYSE:SLB)

Financial Advocates Investment Management increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,311 shares of the oil and gas company’s stock after purchasing an additional 753 shares during the period. Financial Advocates Investment Management’s holdings in Schlumberger were worth $307,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC grew 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 valued at $25,000 after purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Finally, Riverview Trust Co grew its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on 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 sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.8 %

Schlumberger stock opened at $39.76 on Monday. The firm has a market cap of $56.15 billion, a PE ratio of 12.78, a P/E/G ratio of 1.41 and a beta of 1.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The stock’s 50 day simple moving average is $42.44 and its two-hundred day simple moving average is $45.11. 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 (NYSE:SLB) last released its quarterly 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 company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $0.78 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analysts Set New Price Targets

Several research analysts recently weighed in on SLB shares. Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

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.