Fiduciary Family Office LLC Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Fiduciary Family Office LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 11.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,774 shares of the oil and gas company’s stock after buying an additional 2,032 shares during the quarter. Fiduciary Family Office LLC’s holdings in Schlumberger were worth $830,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SLB. Crescent Grove Advisors LLC bought a new position in Schlumberger in the second quarter worth approximately $257,000. National Bank of Canada FI lifted its stake in shares of Schlumberger by 15.0% during the 1st 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 buying an additional 51,637 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares in the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% during the 1st 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 buying an additional 64,974 shares in the last quarter. Finally, Townsend Asset Management Corp NC ADV purchased a new position in shares of Schlumberger during the 3rd quarter valued at $2,063,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.3 %

Shares of NYSE SLB traded up $0.14 during midday trading on Tuesday, reaching $40.46. 2,516,120 shares of the company’s stock traded hands, compared to its average volume of 11,143,832. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.47. The stock’s 50 day simple moving average is $42.34 and its 200-day simple moving average is $45.03. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The company has a market cap of $57.14 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 1.40 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating 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 analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the company posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal 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 paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.72%. Schlumberger’s payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were 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 owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SLB shares. Citigroup lowered their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Evercore ISI decreased their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, Piper Sandler cut their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

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.