Coastwise Capital Group LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Coastwise Capital Group LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 82.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,587 shares of the oil and gas company’s stock after acquiring an additional 3,892 shares during the period. Coastwise Capital Group LLC’s holdings in Schlumberger were worth $360,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SLB. Bruce G. Allen Investments LLC increased its stake 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 purchasing an additional 392 shares during the period. ORG Partners LLC increased its position in 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 acquiring an additional 484 shares during the period. Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the 2nd quarter valued at approximately $30,000. Riverview Trust Co lifted its position in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the period. Finally, Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SLB. Dbs Bank assumed coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Evercore ISI dropped their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Citigroup cut their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Two equities research 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Performance

NYSE:SLB opened at $43.94 on Monday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The firm has a 50 day simple moving average of $42.98 and a 200-day simple moving average of $44.36. The firm has a market cap of $62.05 billion, a PE ratio of 14.13, a P/E/G ratio of 1.55 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 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts expect 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. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s payout ratio is 35.37%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated 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 $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently 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.