Peak Asset Management LLC Purchases 2,860 Shares of Schlumberger Limited (NYSE:SLB)

Peak Asset Management LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,321 shares of the oil and gas company’s stock after acquiring an additional 2,860 shares during the period. Peak Asset Management LLC’s holdings in Schlumberger were worth $1,650,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Capital World Investors grew its position in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 14.1% during 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 purchasing an additional 10,606,191 shares during the period. Boston Partners grew its holdings in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in Schlumberger during the 2nd quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger in the 2nd quarter worth $91,364,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Citigroup dropped their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, TD Cowen reduced their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

SLB stock opened at $43.59 on Thursday. 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 has a market capitalization of $61.56 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.56 and a beta of 1.52. The firm has a 50 day moving average price of $42.26 and a 200-day moving average price of $44.77. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.4 EPS 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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by 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.