Inspire Investing LLC Buys 3,909 Shares of Schlumberger Limited (NYSE:SLB)

Inspire Investing LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,990 shares of the oil and gas company’s stock after purchasing an additional 3,909 shares during the quarter. Schlumberger comprises about 0.6% of Inspire Investing LLC’s portfolio, making the stock its 27th largest holding. Inspire Investing LLC’s holdings in Schlumberger were worth $5,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors increased its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Boston Partners boosted its stake in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. acquired a new position in shares of Schlumberger in the second quarter valued at approximately $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SLB shares. 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. UBS Group lowered their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Bank of America cut their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Stifel Nicolaus decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.42.

Schlumberger Stock Performance

Shares of SLB stock opened at $44.78 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a market capitalization of $64.01 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.95 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.20. The company’s 50-day simple moving average is $43.10 and its 200-day simple moving average is $46.42.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. Equities analysts anticipate that Schlumberger Limited will post 3.47 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th were given a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.46%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. 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.