Schlumberger Limited (NYSE:SLB) Shares Purchased by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd boosted its position in Schlumberger Limited (NYSE:SLB) by 3.7% in the 3rd quarter, Holdings Channel reports. The firm owned 181,559 shares of the oil and gas company’s stock after acquiring an additional 6,495 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Schlumberger were worth $7,665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Busey Bank increased its holdings in shares of Schlumberger by 1.1% in the third quarter. Busey Bank now owns 198,270 shares of the oil and gas company’s stock valued at $8,317,000 after purchasing an additional 2,240 shares during the last quarter. Mraz Amerine & Associates Inc. grew its holdings in Schlumberger by 14.7% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 84,194 shares of the oil and gas company’s stock valued at $3,532,000 after buying an additional 10,785 shares in the last quarter. Schwartz Investment Counsel Inc. increased its stake in shares of Schlumberger by 1.5% in the 3rd quarter. Schwartz Investment Counsel Inc. now owns 328,800 shares of the oil and gas company’s stock worth $13,793,000 after acquiring an additional 5,000 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in shares of Schlumberger by 2.9% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 39,705 shares of the oil and gas company’s stock worth $1,666,000 after acquiring an additional 1,124 shares during the period. Finally, Spirit of America Management Corp NY grew its holdings in shares of Schlumberger by 2.1% in the third quarter. Spirit of America Management Corp NY now owns 49,400 shares of the oil and gas company’s stock valued at $2,072,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.74 on Friday. The firm’s fifty day moving average price is $42.92 and its 200 day moving average price is $45.72. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $57.75. 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 firm has a market cap of $59.66 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51.

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 business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Announces Dividend

The business 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 $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday, October 21st. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI reduced their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Finally, Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’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 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

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.