Isthmus Partners LLC Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Isthmus Partners LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,999 shares of the oil and gas company’s stock after acquiring an additional 6,092 shares during the quarter. Isthmus Partners LLC’s holdings in Schlumberger were worth $10,991,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Crescent Grove Advisors LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at approximately $257,000. Victory Capital Management Inc. raised its position in shares of Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Schlumberger by 0.6% in 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 purchasing an additional 11,813 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 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. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLB. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Dbs Bank began coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, BMO Capital Markets dropped their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Thursday, October 10th. Two 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $43.66 on Friday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The stock has a market cap of $61.65 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.54 and a beta of 1.52. The business has a fifty day moving average of $42.95 and a 200-day moving average of $44.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last released its quarterly 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. 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 business posted $0.78 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 yield of 2.52%. Schlumberger’s dividend payout ratio is currently 35.37%.

Schlumberger Company 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.