Schlumberger Limited (NYSE:SLB) Shares Purchased by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,887 shares of the oil and gas company’s stock after purchasing an additional 2,342 shares during the period. Stanley Laman Group Ltd.’s holdings in Schlumberger were worth $3,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new position in shares of Schlumberger during the 1st quarter valued at about $27,000. Manchester Capital Management LLC raised its position in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. ORG Partners LLC lifted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Finally, Unique Wealth Strategies LLC purchased a new stake in Schlumberger in the 2nd quarter worth approximately $30,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Performance

SLB opened at $41.94 on Wednesday. The firm has a market capitalization of $59.54 billion, a PE ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $59.05. The firm’s 50-day moving average price is $43.03 and its 200 day moving average price is $45.78.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the firm posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.44 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLB. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Evercore ISI cut 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. Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday. Barclays reduced their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

Schlumberger Company Profile

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.