Pallas Capital Advisors LLC Buys New Position in Schlumberger Limited (NYSE:SLB)

Pallas Capital Advisors LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, Holdings Channel reports. The institutional investor bought 5,630 shares of the oil and gas company’s stock, valued at approximately $216,000.

Several other hedge funds also recently added to or reduced their stakes in SLB. 1832 Asset Management L.P. acquired a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the period. Legal & General Group Plc increased its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the period. Merewether Investment Management LP acquired a new position in shares of Schlumberger in the second quarter valued at about $42,957,000. Finally, Weiss Asset Management LP acquired a new position in shares of Schlumberger in the third quarter valued at about $37,322,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SLB. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets cut their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.58.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.68 on Thursday. The company has a market capitalization of $57.45 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.42 and a beta of 1.52. The business’s 50 day moving average is $40.95 and its two-hundred day moving average is $42.95. 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 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

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.