Custom Index Systems LLC Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Custom Index Systems LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 18.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,019 shares of the oil and gas company’s stock after acquiring an additional 1,750 shares during the period. Custom Index Systems LLC’s holdings in Schlumberger were worth $462,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the second quarter valued at about $257,000. National Bank of Canada FI grew its position in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in shares of Schlumberger during the 1st quarter valued at about $245,000. Public Sector Pension Investment Board raised its stake in Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Schlumberger by 9.0% in the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SLB shares. TD Cowen cut their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Morgan Stanley dropped their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Evercore ISI lowered their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Susquehanna lowered their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, 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. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Up 1.2 %

Shares of SLB stock traded up $0.49 during trading hours on Friday, reaching $41.74. The company had a trading volume of 15,345,710 shares, compared to its average volume of 11,139,995. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $57.75. The company has a 50 day moving average of $42.86 and a 200 day moving average of $45.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The firm has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a P/E/G ratio of 1.48 and a beta of 1.51.

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, topping analysts’ consensus estimates 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 return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. On average, equities research analysts anticipate that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

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.