Curi RMB Capital LLC Takes $3.23 Million Position in Schlumberger Limited (NYSE:SLB)

Curi RMB Capital LLC purchased a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 77,000 shares of the oil and gas company's stock, valued at approximately $3,230,000.

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

Analyst Upgrades and Downgrades

SLB has been the topic of a number of analyst reports. Dbs Bank began coverage on Schlumberger in a research report on Wednesday, September 18th. They set a "buy" rating and a $64.50 target price on the stock. Bank of America cut their price target 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. Barclays decreased their price objective 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. BMO Capital Markets reduced their price target on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Thursday, October 10th. Finally, Morgan Stanley cut their price objective on Schlumberger from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Monday, September 16th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Schlumberger presently has an average rating of "Moderate Buy" and a consensus price target of $60.97.

Schlumberger Trading Down 0.6 %

Shares of Schlumberger stock traded down $0.27 during trading hours on Friday, hitting $43.18. The company's stock had a trading volume of 9,632,070 shares, compared to its average volume of 11,276,779. The stock has a market cap of $60.98 billion, a price-to-earnings ratio of 14.07, a P/E/G ratio of 1.54 and a beta of 1.52. 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 Limited has a twelve month low of $38.66 and a twelve month high of $55.69. The firm has a fifty day moving average of $42.35 and a 200-day moving average of $44.75.

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

Schlumberger Announces Dividend

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 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 dividend yield of 2.55%. Schlumberger's dividend payout ratio is presently 35.37%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the business'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 completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.