Metis Global Partners LLC Buys 4,157 Shares of Schlumberger Limited (NYSE:SLB)

by · The Cerbat Gem

Metis Global Partners LLC boosted its stake in Schlumberger Limited (NYSE:SLB – Free Report) by 5.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,906 shares of the oil and gas company’s stock after purchasing an additional 4,157 shares during the period. Metis Global Partners LLC’s holdings in Schlumberger were worth $3,310,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLB. Capital World Investors grew its stake in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the period. Boston Partners increased its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after acquiring an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in Schlumberger during the 2nd quarter valued at about $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger during the second quarter worth about $91,364,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $43.45 on Friday. The company has a market capitalization of $61.36 billion, a PE ratio of 13.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The company’s fifty day moving average price is $42.31 and its 200-day moving average price is $44.76. Schlumberger Limited has a one year low of $38.66 and a one year 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.

Schlumberger (NYSE:SLB – Get Free Report) 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 the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s 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 of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Citigroup reduced their price objective on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Barclays cut their price target 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. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Check Out Our Latest Stock Analysis on SLB

Schlumberger Profile

(Free Report)

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.

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