Lathrop Investment Management Corp Buys 3,257 Shares of Schlumberger Limited (NYSE:SLB)

Lathrop Investment Management Corp boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 1.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 189,297 shares of the oil and gas company’s stock after purchasing an additional 3,257 shares during the period. Lathrop Investment Management Corp’s holdings in Schlumberger were worth $7,941,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ORG Partners LLC increased its stake in Schlumberger by 393.5% in the third 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. Bruce G. Allen Investments LLC boosted its position in Schlumberger by 204.2% in 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 in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the third quarter worth $29,000. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. Finally, Riverview Trust Co lifted its stake in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several analyst reports. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group dropped their target price 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. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays dropped their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Finally, Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger presently 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 company’s 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 transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $44.10 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market cap of $62.28 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.52 and a beta of 1.52. The company’s 50 day moving average price is $42.70 and its two-hundred day moving average price is $44.60. 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. The firm had revenue of $9.16 billion during 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 business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.