Schlumberger Limited (NYSE:SLB) Shares Bought by Empowered Funds LLC

Empowered Funds LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1,346.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 367,329 shares of the oil and gas company’s stock after purchasing an additional 341,935 shares during the period. Empowered Funds LLC’s holdings in Schlumberger were worth $15,409,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cornercap Investment Counsel Inc. grew its stake in shares of Schlumberger by 122.4% during the 3rd quarter. Cornercap Investment Counsel Inc. now owns 30,495 shares of the oil and gas company’s stock worth $1,279,000 after purchasing an additional 16,783 shares during the period. First Business Financial Services Inc. boosted its stake in shares of Schlumberger by 3.0% during the 3rd quarter. First Business Financial Services Inc. now owns 33,970 shares of the oil and gas company’s stock worth $1,425,000 after acquiring an additional 990 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Schlumberger by 7.3% in the 3rd quarter. CIBC Asset Management Inc now owns 221,136 shares of the oil and gas company’s stock worth $9,277,000 after acquiring an additional 15,010 shares during the period. OneDigital Investment Advisors LLC increased its stake in Schlumberger by 0.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 284 shares in the last quarter. Finally, Metis Global Partners LLC increased its stake in Schlumberger by 5.6% in the 3rd quarter. Metis Global Partners LLC now owns 78,906 shares of the oil and gas company’s stock valued at $3,310,000 after purchasing an additional 4,157 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

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 value of $2,514,000.00. Following the transaction, the executive vice president now 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 filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.7 %

SLB opened at $43.75 on Friday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The business has a 50-day moving average of $42.31 and a two-hundred day moving average of $44.76. 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 has a market capitalization of $61.78 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.51%. Schlumberger’s payout ratio is 35.37%.

Analysts Set New Price Targets

SLB has been the topic of several research reports. BMO Capital Markets lowered their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI dropped their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Barclays reduced their price target 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. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus 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.