Highland Capital Management LLC Buys 9,814 Shares of Schlumberger Limited (NYSE:SLB)

Highland Capital Management LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 5.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 188,929 shares of the oil and gas company’s stock after buying an additional 9,814 shares during the period. Highland Capital Management LLC’s holdings in Schlumberger were worth $7,926,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management bought a new position in shares of Schlumberger during the first quarter worth approximately $1,758,000. Wealthcare Advisory Partners LLC grew its holdings in Schlumberger by 15.4% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 7,242 shares of the oil and gas company’s stock valued at $397,000 after buying an additional 965 shares in the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth $27,000. Norris Perne & French LLP MI grew its stake in shares of Schlumberger by 7.4% in the first quarter. Norris Perne & French LLP MI now owns 4,524 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 312 shares in the last quarter. Finally, Independence Bank of Kentucky increased its position in Schlumberger by 42.8% during the first quarter. Independence Bank of Kentucky now owns 14,004 shares of the oil and gas company’s stock worth $768,000 after acquiring an additional 4,200 shares during the period. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

Schlumberger stock opened at $41.74 on Friday. The stock has a 50-day moving average price of $42.92 and a two-hundred day moving average price of $45.72. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.75. The company has a market capitalization of $59.66 billion, a PE ratio of 13.87, a P/E/G ratio of 1.48 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) 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 analyst estimates of $9.27 billion. During the same quarter last year, the business earned $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity at Schlumberger

In other 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 value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLB. Barclays decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Evercore ISI dropped their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, BMO Capital Markets dropped their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger 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.