Fmr LLC Has $435.36 Million Holdings in Schlumberger Limited (NYSE:SLB)

Fmr LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,377,947 shares of the oil and gas company’s stock after buying an additional 15,804 shares during the quarter. Fmr LLC’s holdings in Schlumberger were worth $435,355,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in Schlumberger by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company’s stock valued at $51,000,000 after purchasing an additional 24,377 shares in the last quarter. Qsemble Capital Management LP raised its position in shares of Schlumberger by 231.3% in 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 buying an additional 100,335 shares in the last quarter. Bank of Montreal Can raised its position in shares of Schlumberger by 0.9% in the 3rd quarter. Bank of Montreal Can now owns 1,886,082 shares of the oil and gas company’s stock valued at $79,762,000 after buying an additional 16,371 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Schlumberger by 23.8% during the 3rd quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock worth $96,000 after acquiring an additional 439 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Schlumberger by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 18,501 shares of the oil and gas company’s stock valued at $776,000 after acquiring an additional 511 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $43.94 on Friday. The firm has a market capitalization of $62.05 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a fifty day moving average of $42.98 and a 200-day moving average of $44.41. 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 quarterly earnings data 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. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent analyst reports. Dbs Bank began coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Barclays lowered their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price (down 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 assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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.