Schlumberger Limited (NYSE:SLB) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 1,346.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,329 shares of the oil and gas company's stock after buying an additional 341,935 shares during the period. Empowered Funds LLC's holdings in Schlumberger were worth $15,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company's stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the period. Capital World Investors grew its position in shares of 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 worth $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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. Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock valued at $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. Finally, Boston Partners lifted its stake in Schlumberger by 35.8% in the first 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 during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.27 during mid-day trading on Friday, hitting $43.18. The stock had a trading volume of 9,632,070 shares, compared to its average volume of 11,276,779. The firm has a market cap of $60.98 billion, a PE ratio of 14.07, a PEG 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. The company has a 50 day moving average of $42.35 and a two-hundred day moving average of $44.75. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 21.84% and a net margin of 12.44%. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the business posted $0.78 earnings per share. Research analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued 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 (DPR) is currently 35.37%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Stifel Nicolaus reissued a "buy" rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Royal Bank of Canada reissued an "outperform" rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. TD Cowen lowered their target price on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a report on Monday, October 21st. Susquehanna cut their price target on Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a report on Monday, October 21st. Finally, Dbs Bank started coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a "buy" rating and a $64.50 price target for the company. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.97.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company's stock.

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.