GAMMA Investing LLC Purchases 1,042 Shares of Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 7.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,870 shares of the oil and gas company’s stock after purchasing an additional 1,042 shares during the period. GAMMA Investing LLC’s holdings in Schlumberger were worth $666,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Crescent Grove Advisors LLC bought a new position in Schlumberger in the 2nd quarter valued at approximately $257,000. National Bank of Canada FI lifted its stake in Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP bought a new position in Schlumberger in the 1st quarter valued at approximately $245,000. Public Sector Pension Investment Board lifted its stake in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SLB. UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Evercore ISI raised their price target on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Susquehanna dropped their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Wells Fargo & Company dropped their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Barclays dropped their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 3.2 %

NYSE:SLB opened at $44.14 on Wednesday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $63.09 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 0.94 and a beta of 1.51. The firm has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $46.63. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.20.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the company posted $0.72 earnings per share. Analysts expect that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

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.