Grimes & Company Inc. Grows Stake in Schlumberger Limited (NYSE:SLB)

Grimes & Company Inc. boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 238,173 shares of the oil and gas company’s stock after purchasing an additional 8,072 shares during the period. Grimes & Company Inc.’s holdings in Schlumberger were worth $9,991,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC increased its stake 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 acquiring an additional 484 shares during the last quarter. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at $27,000. Bruce G. Allen Investments LLC increased 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 acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at $30,000. Finally, Manchester Capital Management LLC increased its position in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI cut their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Monday. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $0.32 during trading on Thursday, reaching $41.81. 904,826 shares of the company’s stock traded hands, compared to its average volume of 11,056,642. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a 50 day moving average of $43.00 and a 200-day moving average of $45.75. The stock has a market capitalization of $59.36 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.63%. Schlumberger’s payout ratio is 35.37%.

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.