Charles Schwab Investment Management Inc. Acquires 31,718 Shares of Schlumberger Limited (NYSE:SLB)

Charles Schwab Investment Management Inc. increased its holdings in Schlumberger Limited (NYSE:SLB) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,990,797 shares of the oil and gas company’s stock after acquiring an additional 31,718 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Schlumberger were worth $335,214,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Acadian Asset Management LLC raised its stake in Schlumberger by 4.1% in the first quarter. Acadian Asset Management LLC now owns 8,638 shares of the oil and gas company’s stock worth $471,000 after buying an additional 337 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Schlumberger by 53.3% in the 1st quarter. CreativeOne Wealth LLC now owns 6,302 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 2,192 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. LRI Investments LLC purchased a new stake in Schlumberger in the first quarter worth $99,000. Finally, Lazard Asset Management LLC raised its holdings in Schlumberger by 18.8% in the first quarter. Lazard Asset Management LLC now owns 14,753 shares of the oil and gas company’s stock worth $808,000 after purchasing an additional 2,330 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on 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 in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of SLB stock opened at $44.23 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market cap of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. The firm has a fifty day moving average price of $42.78 and a 200-day moving average price of $44.58.

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

Schlumberger Announces Dividend

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 $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.49%. Schlumberger’s payout ratio is currently 35.37%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLB. TD Cowen dropped their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Barclays decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup dropped their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

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.