Schlumberger Limited. (SLB) Stake Increased by Strategic Wealth Partners Ltd.
Strategic Wealth Partners Ltd. grew its stake in shares of Schlumberger Limited. (NYSE:SLB) by 13.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,940 shares of the oil and gas company’s stock after purchasing an additional 2,097 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Schlumberger were worth $1,093,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Glenview State Bank Trust DEPT. raised its holdings in Schlumberger by 46.6% in the third quarter. Glenview State Bank Trust DEPT. now owns 31,593 shares of the oil and gas company’s stock worth $1,925,000 after purchasing an additional 10,045 shares in the last quarter. Precocity Capital LP raised its holdings in Schlumberger by 20.0% in the second quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock worth $4,022,000 after purchasing an additional 10,000 shares in the last quarter. SeaTown Holdings Pte. Ltd. bought a new position in Schlumberger in the third quarter worth about $9,138,000. Cornerstone Wealth Management LLC raised its holdings in Schlumberger by 17.2% in the third quarter. Cornerstone Wealth Management LLC now owns 302,955 shares of the oil and gas company’s stock worth $4,434,000 after purchasing an additional 44,540 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its holdings in Schlumberger by 1.1% in the third quarter. John G Ullman & Associates Inc. now owns 284,928 shares of the oil and gas company’s stock worth $17,358,000 after purchasing an additional 3,014 shares in the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.
NYSE:SLB traded down $1.27 during midday trading on Thursday, hitting $42.85. The company’s stock had a trading volume of 5,470,535 shares, compared to its average volume of 11,806,092. Schlumberger Limited. has a fifty-two week low of $44.02 and a fifty-two week high of $80.35. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.38. The company has a market cap of $61.10 billion, a PE ratio of 28.57, a price-to-earnings-growth ratio of 4.35 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Investors of record on Wednesday, December 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.67%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
In related news, CFO Simon Ayat sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the transaction, the chief financial officer now owns 234,008 shares in the company, valued at approximately $13,244,852.80. The sale was disclosed in a filing with the SEC, which is available through this link. 0.48% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Wednesday. Jefferies Financial Group cut their price objective on shares of Schlumberger to $54.00 and set a “buy” rating on the stock in a report on Thursday. Wolfe Research began coverage on shares of Schlumberger in a report on Wednesday, October 10th. They set a “market perform” rating on the stock. Credit Suisse Group cut their price objective on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a report on Monday, October 22nd. Finally, Bank of America restated a “buy” rating and set a $52.00 price objective (down previously from $69.00) on shares of Schlumberger in a report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.50.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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