Schlumberger Limited (NYSE:SLB) Shares Purchased by Olstein Capital Management L.P.

Olstein Capital Management L.P. lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 47.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,000 shares of the oil and gas company's stock after purchasing an additional 78,000 shares during the period. Schlumberger accounts for 1.7% of Olstein Capital Management L.P.'s portfolio, making the stock its 8th largest position. Olstein Capital Management L.P.'s holdings in Schlumberger were worth $10,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares 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 buying 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 position in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company's stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. bought a new stake in Schlumberger in the second quarter valued at about $91,364,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. lowered their target price 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. Wells Fargo & Company reduced their price target on shares of Schlumberger from $53.00 to $49.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 25th. Benchmark reaffirmed a "buy" rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Finally, TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of "Moderate Buy" and an average target price of $60.97.

Schlumberger Stock Down 1.2 %

NYSE:SLB traded down $0.53 on Thursday, hitting $43.24. 15,423,732 shares of the company's stock were exchanged, compared to its average volume of 11,270,041. The firm has a 50-day moving average price of $42.25 and a 200-day moving average price of $44.96. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market cap of $61.06 billion, a P/E ratio of 13.92, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52.

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, beating 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 period in the prior year, the firm posted $0.78 earnings per share. The business's quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Wednesday, December 4th. Schlumberger's dividend payout ratio is currently 35.37%.

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.