AIA Group Ltd Buys 1,468 Shares of Schlumberger Limited (NYSE:SLB)

AIA Group Ltd lifted its position in Schlumberger Limited (NYSE:SLB) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 148,668 shares of the oil and gas company’s stock after acquiring an additional 1,468 shares during the period. AIA Group Ltd’s holdings in Schlumberger were worth $6,237,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger during the second quarter worth about $30,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co grew its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLB. Barclays cut their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Down 1.2 %

SLB stock opened at $43.24 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a market cap of $61.06 billion, a price-to-earnings ratio of 13.90, a P/E/G ratio of 1.54 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. The business has a 50 day moving average price of $42.25 and a two-hundred day moving average price of $44.96.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the business earned $0.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company 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 dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.54%. Schlumberger’s dividend payout ratio is presently 35.37%.

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.