Cantor Fitzgerald Investment Advisors L.P. Invests $6.31 Million in Schlumberger Limited (NYSE:SLB)

Cantor Fitzgerald Investment Advisors L.P. acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 150,410 shares of the oil and gas company’s stock, valued at approximately $6,310,000.

A number of other hedge funds have also bought and sold shares of SLB. Crescent Grove Advisors LLC bought a new position in Schlumberger in the 2nd quarter worth about $257,000. National Bank of Canada FI raised its holdings in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP purchased a new stake in shares of Schlumberger in the 1st quarter worth approximately $245,000. Public Sector Pension Investment Board boosted its stake in shares of Schlumberger by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after buying an additional 64,974 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. TD Cowen reduced their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Barclays cut their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB opened at $41.39 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm has a market cap of $59.16 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 1.47 and a beta of 1.51. The stock’s 50-day moving average price is $42.78 and its 200 day moving average price is $45.43. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (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 analysts’ expectations of $9.27 billion. During the same period in the previous year, the company earned $0.78 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed 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 2.66%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.