Archer Investment Corp Has $256,000 Position in Schlumberger Limited (NYSE:SLB)

Archer Investment Corp grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 9,418.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,092 shares of the oil and gas company’s stock after acquiring an additional 6,028 shares during the period. Archer Investment Corp’s holdings in Schlumberger were worth $256,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SLB. Financial Advocates Investment Management lifted its holdings in Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares during the last quarter. Grove Bank & Trust grew its position in Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares during the period. First PREMIER Bank increased its holdings in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the last quarter. Finally, Addison Advisors LLC raised its position in Schlumberger by 6.5% in the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 233 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Dbs Bank began coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. BMO Capital Markets reduced their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Barclays lowered their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Finally, Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were 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 $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Schlumberger stock opened at $43.18 on Friday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The stock has a market cap of $60.98 billion, a P/E ratio of 13.88, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The firm’s fifty day moving average price is $42.40 and its 200-day moving average price is $44.71.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for 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%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the business posted $0.78 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger’s payout ratio is 35.37%.

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.