Islay Capital Management LLC Buys 26,000 Shares of Schlumberger Limited (NYSE:SLB)

Islay Capital Management LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 4,952.4% in the third quarter, HoldingsChannel.com reports. The fund owned 26,525 shares of the oil and gas company’s stock after acquiring an additional 26,000 shares during the quarter. Islay Capital Management LLC’s holdings in Schlumberger were worth $1,113,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. ORG Partners LLC lifted its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% in the 2nd 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. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter worth approximately $30,000. Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% during the 2nd 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 in the last quarter. Finally, First Community Trust NA increased its stake in Schlumberger by 264.0% in the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 528 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

NYSE SLB opened at $43.18 on Monday. The company has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The stock has a fifty day simple moving average of $42.40 and a 200 day simple moving average of $44.67. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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 return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.4 EPS 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 given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Morgan Stanley reduced their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Citigroup lowered their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.