Moran Wealth Management LLC Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Moran Wealth Management LLC grew its position in Schlumberger Limited (NYSE:SLB) by 31.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,896 shares of the oil and gas company’s stock after purchasing an additional 73,432 shares during the period. Moran Wealth Management LLC’s holdings in Schlumberger were worth $12,958,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. EagleClaw Capital Managment LLC lifted its position in shares of Schlumberger by 5.8% during the 3rd quarter. EagleClaw Capital Managment LLC now owns 35,784 shares of the oil and gas company’s stock worth $1,501,000 after buying an additional 1,975 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Schlumberger by 2.4% during the third quarter. First Horizon Advisors Inc. now owns 17,375 shares of the oil and gas company’s stock valued at $729,000 after acquiring an additional 414 shares during the last quarter. SCP Investment LP lifted its holdings in Schlumberger by 40.7% during the third quarter. SCP Investment LP now owns 49,800 shares of the oil and gas company’s stock worth $2,089,000 after acquiring an additional 14,400 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Schlumberger by 395.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after purchasing an additional 621,809 shares during the last quarter. Finally, Commerce Bank grew its stake in Schlumberger by 1.5% in the 3rd quarter. Commerce Bank now owns 64,605 shares of the oil and gas company’s stock valued at $2,710,000 after purchasing an additional 958 shares during the period. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. Citigroup lowered their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of NYSE:SLB traded up $0.11 on Wednesday, hitting $43.21. The company’s stock had a trading volume of 1,399,343 shares, compared to its average volume of 11,198,301. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. 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 company has a market capitalization of $61.02 billion, a PE ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.52. The company has a 50-day simple moving average of $42.53 and a 200 day simple moving average of $44.61.

Schlumberger (NYSE:SLB) last announced its earnings results 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 firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.78 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’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 transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.