Baker Avenue Asset Management LP Has $20.84 Million Holdings in Schlumberger Limited (NYSE:SLB)

Baker Avenue Asset Management LP lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.2% during the 3rd quarter, Holdings Channel reports. The firm owned 496,654 shares of the oil and gas company’s stock after purchasing an additional 797 shares during the quarter. Baker Avenue Asset Management LP’s holdings in Schlumberger were worth $20,835,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SLB. Capital World Investors grew its position in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of 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 valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners increased its position in shares of Schlumberger by 35.8% during 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 purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger in the 2nd quarter worth approximately $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.1 %

NYSE:SLB traded down $0.06 during mid-day trading on Friday, hitting $43.18. 13,598,067 shares of the company’s stock were exchanged, compared to its average volume of 13,230,377. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The business has a fifty day moving average price of $42.21 and a 200 day moving average price of $44.90. The company has a market cap of $60.98 billion, a PE ratio of 13.88, a P/E/G ratio of 1.52 and a beta of 1.52. 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 (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. Equities analysts predict that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently declared 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. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Evercore ISI lowered their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Wells Fargo & Company lowered their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Stifel Nicolaus restated a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.