Moors & Cabot Inc. Has $3.07 Million Stake in Schlumberger Limited (NYSE:SLB)

Moors & Cabot Inc. trimmed its stake in Schlumberger Limited (NYSE:SLB) by 3.8% in the third quarter, HoldingsChannel.com reports. The firm owned 73,265 shares of the oil and gas company’s stock after selling 2,917 shares during the period. Moors & Cabot Inc.’s holdings in Schlumberger were worth $3,073,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SLB. Price T Rowe Associates Inc. MD grew its holdings in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Legal & General Group Plc grew its stake in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. Boston Partners grew its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the period. Van ECK Associates Corp grew its stake in shares of Schlumberger by 1.2% in the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after buying an additional 100,477 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after buying an additional 915,705 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on SLB. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Barclays dropped their price target 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. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Up 1.0 %

Shares of SLB stock opened at $43.53 on Thursday. The company has a 50 day moving average of $42.61 and a 200-day moving average of $44.60. 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 12-month low of $38.66 and a 12-month high of $55.69. The firm has a market cap of $61.47 billion, a P/E ratio of 14.00, a PEG ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released 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 analyst estimates of $9.27 billion. During the same period in the previous year, the business earned $0.78 EPS. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.4 earnings per share 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 dividend on an annualized basis and a yield of 2.53%. Schlumberger’s dividend payout ratio is 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

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.