Narwhal Capital Management Has $962,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Narwhal Capital Management raised its stake in Schlumberger Limited (NYSE:SLB) by 4.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 22,930 shares of the oil and gas company’s stock after acquiring an additional 1,056 shares during the period. Narwhal Capital Management’s holdings in Schlumberger were worth $962,000 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. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $27,000. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the period. ORG Partners LLC lifted its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Finally, Unique Wealth Strategies LLC bought a new position in Schlumberger during the second quarter valued at $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.94 on Wednesday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50 day moving average of $43.03 and a 200 day moving average of $45.78. The company has a market capitalization of $59.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.78 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.44 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. Evercore ISI dropped their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Citigroup cut their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays decreased their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 16th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

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.