Schlumberger Limited (NYSE:SLB) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its position in Schlumberger Limited (NYSE:SLB) by 88.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 45,375 shares of the oil and gas company’s stock after purchasing an additional 21,347 shares during the period. Raymond James Trust N.A.’s holdings in Schlumberger were worth $1,903,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Boston Partners grew its stake in 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 buying an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter worth about $92,944,000. 1832 Asset Management L.P. acquired a new position in shares of Schlumberger during the second quarter valued at about $91,364,000. Legal & General Group Plc raised its position in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Schlumberger by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Up 0.4 %

Shares of Schlumberger stock opened at $44.23 on Friday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two 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 company has a market cap of $62.46 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The firm has a 50-day simple moving average of $42.78 and a two-hundred day simple moving average of $44.55.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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%. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. As a group, equities analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business 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 $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on SLB shares. JPMorgan Chase & Co. decreased their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company reduced their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Susquehanna dropped their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

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.