12,280 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Copley Financial Group Inc.

Copley Financial Group Inc. acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,280 shares of the oil and gas company’s stock, valued at approximately $515,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the third quarter valued at about $29,000. Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the second quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in Schlumberger during the 3rd quarter worth about $37,000. Finally, DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.45 during midday trading on Friday, reaching $40.65. The company had a trading volume of 744,781 shares, compared to its average volume of 11,095,157. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $42.84 and its 200 day simple moving average is $44.05. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The stock has a market cap of $57.40 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.47 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted 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 business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was 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 represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. 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. Dbs Bank initiated coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.91.

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.