Osborne Partners Capital Management LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Osborne Partners Capital Management LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 215,525 shares of the oil and gas company’s stock after buying an additional 7,097 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Schlumberger were worth $9,041,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. ORG Partners LLC increased its holdings in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its stake in 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 valued at $28,000 after buying an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the 2nd quarter worth about $30,000. Finally, Manchester Capital Management LLC increased its stake in 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 buying an additional 426 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SLB shares. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. BMO Capital Markets lowered their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen reduced their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Citigroup lowered their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Trading Up 1.2 %

Shares of SLB stock opened at $41.74 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $57.75. The firm has a market cap of $59.66 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.48 and a beta of 1.51. The company has a 50-day moving average of $42.92 and a two-hundred day moving average of $45.72. 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 (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share 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 net margin of 12.44% and a return on equity of 21.84%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. On average, analysts predict that Schlumberger Limited will post 3.41 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.64%. Schlumberger’s dividend payout ratio is presently 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.