First Dallas Securities Inc. Has $413,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

First Dallas Securities Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 85.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,850 shares of the oil and gas company’s stock after purchasing an additional 4,550 shares during the quarter. First Dallas Securities Inc.’s holdings in Schlumberger were worth $413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. ORG Partners LLC increased its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at approximately $29,000. Unique Wealth Strategies LLC bought a new stake in Schlumberger during the 2nd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the 3rd quarter worth approximately $37,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup lowered their target price on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Bank of America lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling at Schlumberger

In other 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 sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.5 %

Shares of Schlumberger stock opened at $41.17 on Tuesday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The firm has a market cap of $58.14 billion, a PE ratio of 13.24, a PEG ratio of 1.45 and a beta of 1.51. 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 50 day simple moving average of $43.01 and a two-hundred day simple moving average of $44.13.

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, beating the consensus estimate of $0.88 by $0.01. The business 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%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.78 earnings per share. Analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 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.