Callahan Advisors LLC Acquires 36,067 Shares of Schlumberger Limited (NYSE:SLB)

Callahan Advisors LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 16.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 249,430 shares of the oil and gas company’s stock after acquiring an additional 36,067 shares during the period. Callahan Advisors LLC’s holdings in Schlumberger were worth $10,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in SLB. Norden Group LLC bought a new position in shares of Schlumberger in the 1st quarter worth about $253,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Schlumberger by 20.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,161 shares of the oil and gas company’s stock worth $173,000 after acquiring an additional 535 shares in the last quarter. Larson Financial Group LLC increased its position in Schlumberger by 123.5% in the 1st quarter. Larson Financial Group LLC now owns 2,076 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 1,147 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Schlumberger in the 1st quarter valued at about $2,373,000. Finally, Signaturefd LLC increased its position in Schlumberger by 5.2% in the 1st quarter. Signaturefd LLC now owns 22,612 shares of the oil and gas company’s stock valued at $1,239,000 after buying an additional 1,119 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. UBS Group decreased their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Piper Sandler decreased their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Citigroup decreased their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 price objective (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.97.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Schlumberger stock opened at $40.55 on Wednesday. Schlumberger Limited has a 12 month low of $38.66 and a 12 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. The business’s 50 day simple moving average is $42.25 and its 200 day simple moving average is $44.97. The company has a market cap of $57.26 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.42 and a beta of 1.52.

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, 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 for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.4 EPS for the current 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 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 2.71%. Schlumberger’s payout ratio is 35.37%.

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.