Fisher Asset Management LLC Purchases 60,070 Shares of Schlumberger Limited (NYSE:SLB)

Fisher Asset Management LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,159,818 shares of the oil and gas company’s stock after purchasing an additional 60,070 shares during the period. Fisher Asset Management LLC owned approximately 0.08% of Schlumberger worth $48,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of SLB. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Bruce G. Allen Investments LLC boosted its stake in shares of 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 purchasing an additional 392 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the third quarter worth about $29,000. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the 2nd quarter worth about $30,000. Finally, Riverview Trust Co lifted its holdings in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.6 %

SLB stock opened at $43.47 on Wednesday. The stock has a market capitalization of $61.39 billion, a PE ratio of 13.98, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The firm has a 50 day moving average of $42.89 and a 200 day moving average of $44.46.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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 business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

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

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’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 transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SLB. Wells Fargo & Company dropped their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Finally, Barclays decreased their price objective on Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger 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.