IHT Wealth Management LLC Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

IHT Wealth Management LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,416 shares of the oil and gas company’s stock after acquiring an additional 394 shares during the quarter. IHT Wealth Management LLC’s holdings in Schlumberger were worth $270,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Schlumberger by 1.2% in the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock worth $404,985,000 after buying an additional 100,477 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after buying an additional 31,718 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after buying an additional 915,705 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Wells Fargo & Company lowered their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Dbs Bank assumed coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Stock Up 0.5 %

Shares of SLB stock opened at $41.17 on Tuesday. The stock’s 50-day simple moving average is $43.01 and its 200-day simple moving average is $44.13. 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 firm has a market capitalization of $58.14 billion, a PE ratio of 13.24, a P/E/G ratio of 1.45 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued 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. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid 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 dividend yield of 2.67%. Schlumberger’s payout ratio is 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

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.