77,000 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Curi RMB Capital LLC

Curi RMB Capital LLC bought a new position in Schlumberger Limited (NYSE:SLB) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 77,000 shares of the oil and gas company’s stock, valued at approximately $3,230,000.

A number of other hedge funds have also added to or reduced their stakes in SLB. Crescent Grove Advisors LLC purchased a new stake in Schlumberger during the second quarter valued at $257,000. National Bank of Canada FI increased its position 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 during the last quarter. Public Sector Pension Investment Board lifted its stake in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after buying an additional 63,413 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Morgan Stanley decreased their price target 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. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, BMO Capital Markets cut their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Down 0.3 %

Shares of SLB stock opened at $43.45 on Friday. The stock has a market cap of $61.36 billion, a P/E ratio of 13.97, a PEG ratio of 1.54 and a beta of 1.52. The company’s fifty day simple moving average is $42.31 and its two-hundred day simple moving average is $44.76. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. Analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Schlumberger Company 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.