Chescapmanager LLC Makes New $3.78 Million Investment in Schlumberger Limited (NYSE:SLB)

Chescapmanager LLC bought a new stake in Schlumberger Limited (NYSE:SLB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 90,000 shares of the oil and gas company’s stock, valued at approximately $3,776,000. Schlumberger accounts for 0.4% of Chescapmanager LLC’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. Crescent Grove Advisors LLC bought a new position in Schlumberger during the 2nd quarter valued at approximately $257,000. Victory Capital Management Inc. grew its stake in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Schlumberger by 0.6% during the second 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 acquiring 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 worth $12,880,000 after purchasing an additional 63,413 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SLB shares. Morgan Stanley cut their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. BMO Capital Markets reduced their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, Barclays lowered their price target 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $44.03 on Monday. The company has a market cap of $62.18 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm’s fifty day moving average is $42.98 and its two-hundred day moving average is $44.36.

Schlumberger (NYSE:SLB) last issued 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

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.