Forum Financial Management LP Increases Position in Schlumberger Limited (NYSE:SLB)

Forum Financial Management LP raised its position in Schlumberger Limited (NYSE:SLB) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,417 shares of the oil and gas company’s stock after purchasing an additional 329 shares during the quarter. Forum Financial Management LP’s holdings in Schlumberger were worth $815,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. 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 worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $30,000. Manchester Capital Management LLC raised its holdings in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co raised its holdings in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 1.4 %

Shares of NYSE:SLB opened at $40.32 on Tuesday. The company has a 50 day moving average of $42.34 and a 200-day moving average of $45.03. The firm has a market cap of $56.94 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.40 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $57.47. 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 (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.78 EPS. As a group, analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.73%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s 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 directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. JPMorgan Chase & Co. reduced their target price 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. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Finally, TD Cowen reduced their target price on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.