First Horizon Advisors Inc. Boosts Holdings in Schlumberger Limited (NYSE:SLB)

First Horizon Advisors Inc. raised its position in Schlumberger Limited (NYSE:SLB) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,375 shares of the oil and gas company’s stock after purchasing an additional 414 shares during the period. First Horizon Advisors Inc.’s holdings in Schlumberger were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of Schlumberger by 14.1% in 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 acquiring an additional 10,606,191 shares during the period. Legal & General Group Plc increased its position in Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. Boston Partners lifted its stake in shares of Schlumberger by 35.8% during the 1st 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 period. Van ECK Associates Corp grew its holdings in Schlumberger by 1.2% in the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after purchasing an additional 100,477 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Schlumberger by 14.9% during the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after acquiring an additional 915,705 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the 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 $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.3 %

NYSE SLB opened at $44.10 on Friday. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The firm has a market cap of $62.28 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52. 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 stock’s 50 day simple moving average is $42.70 and its 200 day simple moving average is $44.60.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. BMO Capital Markets decreased their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research report on Thursday, October 10th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company cut their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Finally, UBS Group lowered their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target 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.