Cadence Bank Buys 138,862 Shares of Schlumberger Limited (NYSE:SLB)

Cadence Bank grew its position in shares of Schlumberger Limited (NYSE:SLB) by 1,806.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 146,551 shares of the oil and gas company’s stock after purchasing an additional 138,862 shares during the period. Cadence Bank’s holdings in Schlumberger were worth $6,148,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the last quarter. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the second quarter valued at $30,000. Riverview Trust Co raised its stake in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter valued at $29,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

NYSE SLB opened at $43.47 on Wednesday. The company has a market cap of $61.39 billion, a PE ratio of 13.98, a P/E/G ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm’s 50 day moving average price is $42.89 and its 200-day moving average price is $44.46.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 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 analyst estimates of $9.27 billion. During the same period in the previous year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed 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 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on SLB shares. Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Wells Fargo & Company dropped 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. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, 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. Two equities 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.97.

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.