Aptus Capital Advisors LLC Boosts Position in Schlumberger Limited (NYSE:SLB)

Aptus Capital Advisors LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 26.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 107,170 shares of the oil and gas company’s stock after buying an additional 22,710 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Schlumberger were worth $4,496,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SLB. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at approximately $257,000. National Bank of Canada FI increased its holdings in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Schlumberger by 0.6% during the 2nd 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 purchasing an additional 11,813 shares in the last quarter. Concurrent Investment Advisors LLC increased its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.1 %

NYSE:SLB opened at $44.34 on Wednesday. The stock has a fifty day moving average price of $42.22 and a two-hundred day moving average price of $44.80. The stock has a market capitalization of $62.61 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SLB. BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Citigroup dropped their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Morgan Stanley dropped their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Insider Activity

In other 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 value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

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.