Chescapmanager LLC Acquires Shares of 90,000 Schlumberger Limited (NYSE:SLB)

Chescapmanager LLC purchased a new position in Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 90,000 shares of the oil and gas company’s stock, valued at approximately $3,776,000. Schlumberger accounts for 0.4% of Chescapmanager LLC’s holdings, making the stock its 25th biggest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bruce G. Allen Investments LLC increased its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. ORG Partners LLC grew its position in shares of Schlumberger by 393.5% during 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 in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at $30,000. Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Schlumberger in the third quarter worth about $29,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $44.03 on Monday. The company has a 50 day moving average price of $42.98 and a 200 day moving average price of $44.36. The firm has a market capitalization of $62.18 billion, a P/E ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. 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 Limited has a 52 week low of $38.66 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 earnings per share. Sell-side analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company 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. 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 2.50%. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

A number of research firms have commented on SLB. Bank of America cut their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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. Finally, Evercore ISI decreased their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.