Schlumberger Limited (NYSE:SLB) Shares Bought by Continuum Advisory LLC

Continuum Advisory LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 32.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,222 shares of the oil and gas company’s stock after purchasing an additional 2,268 shares during the period. Continuum Advisory LLC’s holdings in Schlumberger were worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. ORG Partners LLC increased its stake in Schlumberger by 393.5% during the 3rd 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 during the period. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the third quarter worth $29,000. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the second quarter worth $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the third quarter worth $37,000. Finally, DiNuzzo Private Wealth Inc. raised its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Citigroup reduced their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Monday. BMO Capital Markets lowered their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.91.

Schlumberger Price Performance

SLB stock opened at $40.88 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $57.72 billion, a P/E ratio of 13.14, a PEG ratio of 1.45 and a beta of 1.51. The business has a 50 day simple moving average of $43.01 and a 200-day simple moving average of $44.13. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.