Stockman Wealth Management Inc. Buys 23,621 Shares of Schlumberger Limited (NYSE:SLB)

Stockman Wealth Management Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 14.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 192,566 shares of the oil and gas company's stock after buying an additional 23,621 shares during the period. Stockman Wealth Management Inc.'s holdings in Schlumberger were worth $8,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Crossmark Global Holdings Inc. lifted its holdings in shares of Schlumberger by 0.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 60,405 shares of the oil and gas company's stock worth $2,534,000 after purchasing an additional 550 shares in the last quarter. Essex Savings Bank lifted its holdings in shares of Schlumberger by 18.8% in the 3rd quarter. Essex Savings Bank now owns 5,753 shares of the oil and gas company's stock worth $241,000 after purchasing an additional 910 shares in the last quarter. Tompkins Financial Corp lifted its holdings in shares of Schlumberger by 5.5% in the 3rd quarter. Tompkins Financial Corp now owns 5,800 shares of the oil and gas company's stock worth $243,000 after purchasing an additional 300 shares in the last quarter. Equitable Trust Co. lifted its holdings in shares of Schlumberger by 33.7% in the 3rd quarter. Equitable Trust Co. now owns 10,830 shares of the oil and gas company's stock worth $454,000 after purchasing an additional 2,727 shares in the last quarter. Finally, CWA Asset Management Group LLC bought a new position in shares of Schlumberger in the 3rd quarter worth $5,444,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was 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 owns 211,937 shares of the company's stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock traded down $0.06 during trading hours on Friday, hitting $43.18. 13,598,067 shares of the company's stock traded hands, compared to its average volume of 13,230,377. 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 $60.98 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.52 and a beta of 1.52. The company has a fifty day simple moving average of $42.21 and a 200-day simple moving average of $44.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

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 firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the firm posted $0.78 EPS. The business's revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. JPMorgan Chase & Co. cut their target price on Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a report on Tuesday, October 1st. Evercore ISI cut their target price on Schlumberger from $74.00 to $62.00 and set an "outperform" rating on the stock in a report on Monday, October 21st. UBS Group cut their target price on Schlumberger from $63.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, September 18th. Citigroup dropped their price objective on Schlumberger from $60.00 to $54.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada restated an "outperform" rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target 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.