D.A. Davidson & CO. Raises Position in Schlumberger Limited (NYSE:SLB)

D.A. Davidson & CO. boosted its position in Schlumberger Limited (NYSE:SLB) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,053 shares of the oil and gas company’s stock after purchasing an additional 25,368 shares during the period. D.A. Davidson & CO.’s holdings in Schlumberger were worth $5,330,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company increased its holdings in Schlumberger by 2.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company’s stock worth $51,000,000 after acquiring an additional 24,377 shares during the last quarter. Qsemble Capital Management LP raised its holdings in Schlumberger by 231.3% during the 3rd quarter. Qsemble Capital Management LP now owns 143,720 shares of the oil and gas company’s stock valued at $6,029,000 after acquiring an additional 100,335 shares during the period. Bank of Montreal Can lifted its position in shares of Schlumberger by 0.9% during the third quarter. Bank of Montreal Can now owns 1,886,082 shares of the oil and gas company’s stock worth $79,762,000 after acquiring an additional 16,371 shares in the last quarter. Private Trust Co. NA grew its position in shares of Schlumberger by 23.8% in the third quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 439 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Schlumberger by 2.8% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 18,501 shares of the oil and gas company’s stock valued at $776,000 after purchasing an additional 511 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.4 %

Shares of SLB stock opened at $43.66 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The business has a 50-day moving average of $42.94 and a 200 day moving average of $44.45. The stock has a market capitalization of $61.65 billion, a PE ratio of 14.04, a P/E/G ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.39 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. Stockholders 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 2.52%. Schlumberger’s dividend payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Citigroup dropped their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.