Schlumberger Limited (NYSE:SLB) Shares Purchased by Clifford Capital Partners LLC

Clifford Capital Partners LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 52.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 336,727 shares of the oil and gas company’s stock after acquiring an additional 115,895 shares during the period. Schlumberger comprises approximately 2.8% of Clifford Capital Partners LLC’s holdings, making the stock its 24th biggest holding. Clifford Capital Partners LLC’s holdings in Schlumberger were worth $14,126,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. RiverGlades Family Offices LLC boosted its position in Schlumberger by 9.1% in the 3rd quarter. RiverGlades Family Offices LLC now owns 12,000 shares of the oil and gas company’s stock valued at $503,000 after buying an additional 1,000 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of Schlumberger by 5.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 109,415 shares of the oil and gas company’s stock valued at $4,590,000 after acquiring an additional 6,060 shares during the last quarter. Bridgewater Associates LP increased its holdings in shares of Schlumberger by 54.4% in the 3rd quarter. Bridgewater Associates LP now owns 1,155,760 shares of the oil and gas company’s stock valued at $48,484,000 after acquiring an additional 407,323 shares during the last quarter. Hardy Reed LLC bought a new position in Schlumberger during the third quarter worth $238,000. Finally, Townsquare Capital LLC lifted its stake in Schlumberger by 25.2% during the third quarter. Townsquare Capital LLC now owns 37,094 shares of the oil and gas company’s stock worth $1,556,000 after purchasing an additional 7,464 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Down 0.6 %

Shares of NYSE SLB opened at $43.47 on Wednesday. The business has a fifty day simple moving average of $42.89 and a 200-day simple moving average of $44.46. 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 company has a market cap of $61.39 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

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

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction 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 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLB. Barclays dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Dbs Bank initiated coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Bank of America decreased 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. BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Evercore ISI lowered their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.