Moran Wealth Management LLC Has $12.96 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Moran Wealth Management LLC grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 31.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 308,896 shares of the oil and gas company's stock after acquiring an additional 73,432 shares during the quarter. Moran Wealth Management LLC's holdings in Schlumberger were worth $12,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. ORG Partners LLC grew its position 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 purchasing an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 392 shares during the period. Prospera Private Wealth LLC acquired a new position in Schlumberger in the 3rd quarter valued at approximately $29,000. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $30,000. Finally, Riverview Trust Co grew its holdings in shares of Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on SLB. Barclays reduced their target price on Schlumberger from $67.00 to $63.00 and set an "overweight" rating for the company in a research report on Wednesday, October 16th. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price objective for the company. Stifel Nicolaus reissued a "buy" rating and issued a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. TD Cowen decreased their price objective on Schlumberger from $68.00 to $65.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Finally, Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a report on Monday, October 14th. Two equities research 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, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.97.

Schlumberger Trading Up 1.0 %

Schlumberger stock traded up $0.43 during mid-day trading on Wednesday, hitting $43.53. The stock had a trading volume of 8,172,437 shares, compared to its average volume of 11,230,699. The stock has a market capitalization of $61.47 billion, a PE ratio of 14.00, a P/E/G ratio of 1.52 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. The stock has a 50-day simple moving average of $42.61 and a two-hundred day simple moving average of $44.60.

Schlumberger (NYSE:SLB - Get Free Report) last issued 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 company 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 company earned $0.78 EPS. Schlumberger's revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.53%. Schlumberger's dividend payout ratio (DPR) is presently 35.37%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm'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 sale, the executive vice president now owns 211,937 shares of the company's stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

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.