CIBC Asset Management Inc Acquires 15,010 Shares of Schlumberger Limited (NYSE:SLB)

CIBC Asset Management Inc raised its holdings in Schlumberger Limited (NYSE:SLB) by 7.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,136 shares of the oil and gas company’s stock after purchasing an additional 15,010 shares during the quarter. CIBC Asset Management Inc’s holdings in Schlumberger were worth $9,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC grew its stake in Schlumberger by 0.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 284 shares during the period. Metis Global Partners LLC grew its stake in shares of Schlumberger by 5.6% during the 3rd quarter. Metis Global Partners LLC now owns 78,906 shares of the oil and gas company’s stock worth $3,310,000 after acquiring an additional 4,157 shares during the period. Curi RMB Capital LLC bought a new position in shares of Schlumberger during the 3rd quarter worth $3,230,000. Huntington National Bank grew its stake in shares of Schlumberger by 4.4% during the 3rd quarter. Huntington National Bank now owns 39,147 shares of the oil and gas company’s stock worth $1,642,000 after acquiring an additional 1,665 shares during the period. Finally, Peak Asset Management LLC grew its stake in shares of Schlumberger by 7.8% during the 3rd quarter. Peak Asset Management LLC now owns 39,321 shares of the oil and gas company’s stock worth $1,650,000 after acquiring an additional 2,860 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of NYSE:SLB opened at $43.18 on Friday. The stock has a fifty day simple moving average of $42.40 and a two-hundred day simple moving average of $44.69. The stock has a market capitalization of $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.54 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping 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 firm had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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 2.55%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays cut their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Citigroup cut their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets cut their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating, seventeen have issued 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 a consensus price target of $60.97.

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.