BluePath Capital Management LLC Grows Holdings in Schlumberger Limited (NYSE:SLB)

BluePath Capital Management LLC raised its position in Schlumberger Limited (NYSE:SLB) by 37.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 23,197 shares of the oil and gas company’s stock after purchasing an additional 6,341 shares during the period. BluePath Capital Management LLC’s holdings in Schlumberger were worth $924,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. State Street Corp raised its holdings in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Schlumberger by 14.0% in the 2nd 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in 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 worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following 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 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

SLB stock opened at $40.68 on Thursday. The company has a 50-day simple moving average of $40.95 and a 200 day simple moving average of $42.95. The company has a market capitalization of $57.45 billion, a P/E ratio of 13.08, a PEG ratio of 1.35 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week 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 for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. 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 business posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Jefferies Financial Group reduced their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Evercore ISI restated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday. Finally, Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.58.

Schlumberger 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.