Schlumberger Limited (NYSE:SLB) is SCP Investment LP's 9th Largest Position

SCP Investment LP increased its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 40.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 49,800 shares of the oil and gas company's stock after purchasing an additional 14,400 shares during the period. Schlumberger makes up 1.5% of SCP Investment LP's portfolio, making the stock its 9th largest holding. SCP Investment LP's holdings in Schlumberger were worth $2,089,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors increased its stake in 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 valued at $4,875,402,000 after purchasing 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% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company's stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Legal & General Group Plc increased its stake 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 worth $598,544,000 after acquiring an additional 1,560,684 shares during the period. Boston Partners increased its stake in shares of 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. Finally, Van ECK Associates Corp increased its stake in shares of Schlumberger by 1.2% in the second quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company's stock worth $404,985,000 after acquiring an additional 100,477 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares of the company's stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.26% of the company's stock.

Schlumberger Stock Up 1.0 %

SLB traded up $0.43 during trading on Wednesday, hitting $43.53. 8,327,824 shares of the company's stock traded hands, compared to its average volume of 11,230,699. The company's 50 day simple moving average is $42.53 and its two-hundred day simple moving average is $44.61. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The stock has a market capitalization of $61.47 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the business earned $0.78 earnings per share. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on SLB shares. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Bank of America dropped their price target 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. Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a "positive" rating for the company in a research note on Monday, October 21st. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research note on Thursday, October 10th. Finally, Citigroup cut their target price on shares of Schlumberger from $60.00 to $54.00 and set a "buy" rating on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $60.97.

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.