Bank of Montreal Can Acquires 16,371 Shares of Schlumberger Limited (NYSE:SLB)

Bank of Montreal Can boosted its holdings in Schlumberger Limited (NYSE:SLB) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 1,886,082 shares of the oil and gas company’s stock after purchasing an additional 16,371 shares during the quarter. Bank of Montreal Can’s holdings in Schlumberger were worth $79,762,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC grew its holdings in 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 in the last quarter. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger in the second quarter valued at about $30,000. Riverview Trust Co lifted its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Finally, Prospera Private Wealth LLC bought a new stake in Schlumberger in the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of Schlumberger stock opened at $43.47 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The company’s 50 day moving average price is $42.89 and its 200-day moving average price is $44.46. The stock has a market capitalization of $61.39 billion, a price-to-earnings ratio of 13.98, a P/E/G ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the business posted $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

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 given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’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 transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SLB has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Evercore ISI reduced their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Barclays decreased their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Wells Fargo & Company cut 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 report on Wednesday, September 25th. Finally, Dbs Bank started coverage on Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average 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.