CWA Asset Management Group LLC Acquires New Position in Schlumberger Limited (NYSE:SLB)

CWA Asset Management Group LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 129,779 shares of the oil and gas company's stock, valued at approximately $5,444,000.

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

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company's stock.

Schlumberger Price Performance

Schlumberger stock traded down $0.06 during mid-day trading on Friday, hitting $43.18. The stock had a trading volume of 13,598,067 shares, compared to its average volume of 11,280,781. 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 Limited has a one year low of $38.66 and a one year high of $55.69. The firm's 50 day moving average is $42.21 and its 200 day moving average is $44.90. The firm has a market capitalization of $60.98 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.16 billion for the quarter, compared to analysts' expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business's quarterly revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SLB shares. Royal Bank of Canada reissued an "outperform" rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Benchmark reiterated a "buy" rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating for the company in a research note on Tuesday, October 1st. Stifel Nicolaus reissued a "buy" rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average target price of $60.97.

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.