The Manufacturers Life Insurance Company Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

The Manufacturers Life Insurance Company boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,215,726 shares of the oil and gas company’s stock after acquiring an additional 24,377 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of Schlumberger worth $51,000,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the period. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at about $29,000. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the 2nd quarter valued at about $30,000. Finally, Riverview Trust Co boosted its stake in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.4 %

SLB opened at $43.66 on Friday. The firm has a market cap of $61.65 billion, a price-to-earnings ratio of 14.04, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The business’s 50 day moving average is $42.95 and its two-hundred day moving average is $44.45. 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 (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Two 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger 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.