Schlumberger Limited (NYSE:SLB) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in Schlumberger Limited (NYSE:SLB) by 24.9% during the 3rd quarter, Holdings Channel reports. The firm owned 261,421 shares of the oil and gas company’s stock after acquiring an additional 52,134 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Schlumberger were worth $10,967,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Norden Group LLC purchased a new position in Schlumberger during the 1st quarter valued at about $253,000. Larson Financial Group LLC increased its stake in shares of Schlumberger by 123.5% during the 1st quarter. Larson Financial Group LLC now owns 2,076 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 1,147 shares in the last quarter. Signaturefd LLC raised its position in shares of Schlumberger by 5.2% during the 1st quarter. Signaturefd LLC now owns 22,612 shares of the oil and gas company’s stock worth $1,239,000 after purchasing an additional 1,119 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% in the 1st 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 in the last quarter. Finally, Advisory Services Network LLC grew its holdings in Schlumberger by 55.3% during the 1st quarter. Advisory Services Network LLC now owns 79,022 shares of the oil and gas company’s stock valued at $4,331,000 after buying an additional 28,152 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 8.0 %

SLB opened at $43.78 on Thursday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The firm has a 50 day moving average price of $42.25 and a 200 day moving average price of $44.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market cap of $61.82 billion, a PE ratio of 14.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during 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 business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has an average 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.