Forum Financial Management LP Purchases 329 Shares of Schlumberger Limited (NYSE:SLB)

Forum Financial Management LP raised its stake in Schlumberger Limited (NYSE:SLB) by 1.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,417 shares of the oil and gas company’s stock after buying an additional 329 shares during the quarter. Forum Financial Management LP’s holdings in Schlumberger were worth $815,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SLB. Nvwm LLC lifted its position in shares of Schlumberger by 4.6% in the third quarter. Nvwm LLC now owns 34,084 shares of the oil and gas company’s stock worth $1,430,000 after purchasing an additional 1,512 shares in the last quarter. Baxter Bros Inc. bought a new stake in shares of Schlumberger in the third quarter valued at about $800,000. Janney Montgomery Scott LLC boosted its position in shares of Schlumberger by 24.9% in the third quarter. Janney Montgomery Scott LLC now owns 261,421 shares of the oil and gas company’s stock valued at $10,967,000 after acquiring an additional 52,134 shares during the period. Private Wealth Partners LLC boosted its position in shares of Schlumberger by 19.2% in the third quarter. Private Wealth Partners LLC now owns 6,205 shares of the oil and gas company’s stock valued at $260,000 after acquiring an additional 1,000 shares during the period. Finally, Lmcg Investments LLC lifted its position in Schlumberger by 68.7% during the third quarter. Lmcg Investments LLC now owns 221,977 shares of the oil and gas company’s stock worth $9,312,000 after purchasing an additional 90,374 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $40.32 on Tuesday. 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 Limited has a 1 year low of $38.66 and a 1 year high of $57.47. The stock’s 50 day simple moving average is $42.34 and its two-hundred day simple moving average is $45.03. The company has a market cap of $56.94 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 1.40 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent research reports. UBS Group lowered their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Citigroup decreased their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Evercore ISI reduced their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Finally, Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.26% of the company’s stock.

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.