Tobam Buys 33,263 Shares of Schlumberger Limited (NYSE:SLB)
Tobam grew its stake in Schlumberger Limited (NYSE:SLB – Get Rating) by 8.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 418,479 shares of the oil and gas company’s stock after acquiring an additional 33,263 shares during the quarter. Tobam’s holdings in Schlumberger were worth $15,023,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in SLB. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in shares of Schlumberger by 3.4% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,050 shares of the oil and gas company’s stock worth $217,000 after purchasing an additional 200 shares during the last quarter. Trust Co. of Vermont boosted its holdings in shares of Schlumberger by 7.8% during the 3rd quarter. Trust Co. of Vermont now owns 3,109 shares of the oil and gas company’s stock worth $112,000 after purchasing an additional 226 shares during the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Schlumberger by 2.6% during the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 11,325 shares of the oil and gas company’s stock worth $407,000 after purchasing an additional 286 shares during the last quarter. Trust Co. of Toledo NA OH boosted its holdings in shares of Schlumberger by 0.6% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 51,110 shares of the oil and gas company’s stock worth $1,828,000 after purchasing an additional 289 shares during the last quarter. Finally, Echo Street Capital Management LLC boosted its holdings in shares of Schlumberger by 2.2% during the 2nd quarter. Echo Street Capital Management LLC now owns 13,866 shares of the oil and gas company’s stock worth $496,000 after purchasing an additional 294 shares during the last quarter. 80.22% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on SLB shares. Royal Bank of Canada upped their price objective on Schlumberger from $59.00 to $66.00 and gave the company an “outperform” rating in a report on Tuesday, November 8th. The Goldman Sachs Group upped their price objective on Schlumberger from $46.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, October 25th. Morgan Stanley upped their price objective on Schlumberger from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, November 7th. Wells Fargo & Company upped their price objective on Schlumberger from $51.00 to $69.00 and gave the company an “overweight” rating in a report on Wednesday, October 26th. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Friday, January 6th. Two equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.85.
Insider Activity at Schlumberger
In other Schlumberger news, EVP Mogharbel Khaled Al sold 57,467 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $54.85, for a total transaction of $3,152,064.95. Following the transaction, the executive vice president now owns 183,551 shares of the company’s stock, valued at $10,067,772.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 57,467 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $54.85, for a total transaction of $3,152,064.95. Following the transaction, the executive vice president now owns 183,551 shares of the company’s stock, valued at $10,067,772.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Limited/Nv Schlumberger sold 12,367,500 shares of the firm’s stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $15.33, for a total value of $189,593,775.00. Following the transaction, the insider now directly owns 10,701,961 shares in the company, valued at approximately $164,061,062.13. The disclosure for this sale can be found here. Insiders have sold 12,496,976 shares of company stock valued at $196,612,911 over the last quarter. 0.28% of the stock is owned by insiders.
Schlumberger Stock Performance
NYSE:SLB opened at $58.28 on Friday. The firm has a market capitalization of $82.64 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 0.51 and a beta of 1.79. The business’s fifty day moving average price is $52.54 and its 200 day moving average price is $43.75. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.40 and a quick ratio of 1.03. Schlumberger Limited has a 12 month low of $30.65 and a 12 month high of $58.60.
Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, October 21st. The oil and gas company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.55 by $0.08. The firm had revenue of $7.48 billion for the quarter, compared to analyst estimates of $7.10 billion. Schlumberger had a return on equity of 16.58% and a net margin of 11.26%. Schlumberger’s revenue for the quarter was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 earnings per share. On average, sell-side analysts anticipate that Schlumberger Limited will post 2.15 earnings per share for the current fiscal year.
Schlumberger Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 12th. Investors of record on Wednesday, December 7th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.20%. The ex-dividend date was Tuesday, December 6th. Schlumberger’s dividend payout ratio (DPR) is presently 33.65%.
Schlumberger Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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