OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Schlumberger Limited (NYSE:SLB)

OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,237 shares of the oil and gas company's stock, valued at approximately $586,000.

Several other hedge funds also recently made changes to their positions in SLB. Avantax Advisory Services Inc. boosted its stake in shares of Schlumberger by 11.5% during the first quarter. Avantax Advisory Services Inc. now owns 27,713 shares of the oil and gas company's stock worth $1,519,000 after buying an additional 2,866 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Schlumberger by 114.9% during the first quarter. Kingsview Wealth Management LLC now owns 52,858 shares of the oil and gas company's stock worth $2,897,000 after buying an additional 28,256 shares during the period. Lord Abbett & CO. LLC boosted its stake in shares of Schlumberger by 0.8% during the first quarter. Lord Abbett & CO. LLC now owns 948,045 shares of the oil and gas company's stock worth $51,962,000 after buying an additional 7,463 shares during the period. Banco BTG Pactual S.A. boosted its stake in shares of Schlumberger by 160.7% during the first quarter. Banco BTG Pactual S.A. now owns 21,144 shares of the oil and gas company's stock worth $1,159,000 after buying an additional 13,033 shares during the period. Finally, Wintrust Investments LLC boosted its stake in shares of Schlumberger by 7.8% during the first quarter. Wintrust Investments LLC now owns 50,599 shares of the oil and gas company's stock worth $2,773,000 after buying an additional 3,641 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on 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 transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Shares of SLB traded down $0.49 during mid-day trading on Thursday, reaching $43.10. 4,170,269 shares of the company's stock were exchanged, compared to its average volume of 11,257,564. The company has a market cap of $60.86 billion, a price-to-earnings ratio of 14.02, a PEG ratio of 1.56 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company has a 50-day simple moving average of $42.31 and a two-hundred day simple moving average of $44.76.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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. The firm had revenue of $9.16 billion during the quarter, compared to analysts' expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger's revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.55%. Schlumberger's payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent analyst reports. 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 report on Tuesday, October 1st. UBS Group reduced their price objective on shares of Schlumberger from $63.00 to $57.00 and set a "buy" rating for the company in a research report on Wednesday, September 18th. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Evercore ISI reduced their price objective on shares of Schlumberger from $74.00 to $62.00 and set an "outperform" rating for the company in a research report on Monday, October 21st. Finally, Citigroup reduced their price objective on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $60.97.

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.