Providence Capital Advisors LLC Grows Position in Schlumberger Limited (NYSE:SLB)

Providence Capital Advisors LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 45.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 178,693 shares of the oil and gas company’s stock after buying an additional 55,696 shares during the period. Schlumberger accounts for 1.5% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Providence Capital Advisors LLC’s holdings in Schlumberger were worth $7,496,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SLB. ORG Partners LLC increased its position in 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 buying an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the third quarter worth $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. Finally, Riverview Trust Co boosted its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $43.66 on Thursday. The business’s 50-day moving average is $42.94 and its two-hundred day moving average is $44.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The firm has a market capitalization of $61.65 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52.

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 analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analyst Ratings Changes

Several research firms have recently issued reports on SLB. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets reduced their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Finally, Barclays reduced their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate 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.