10,790 Shares in Schlumberger Limited (NYSE:SLB) Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC bought a new position in Schlumberger Limited (NYSE:SLB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 10,790 shares of the oil and gas company’s stock, valued at approximately $453,000.

Several other large investors have also made changes to their positions in SLB. ORG Partners LLC raised its position 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 buying an additional 484 shares during the period. Register Financial Advisors LLC purchased a new position in shares of Schlumberger in the 1st quarter worth $27,000. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% in the 2nd 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 Schlumberger in the 2nd quarter valued at $30,000. Finally, Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Susquehanna lowered their price target on Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a report on Friday, October 11th. TD Cowen increased their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company lowered their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.97.

Schlumberger Stock Down 0.2 %

NYSE:SLB traded down $0.08 during mid-day trading on Thursday, reaching $43.60. The stock had a trading volume of 6,984,690 shares, compared to its average volume of 11,002,867. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $43.13 and its two-hundred day simple moving average is $46.18. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20. The company has a market capitalization of $62.32 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the company posted $0.72 earnings per share. Schlumberger’s revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.47 EPS for the current year.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last quarter. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.