Fifth Third Wealth Advisors LLC Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Fifth Third Wealth Advisors LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,500 shares of the oil and gas company’s stock after purchasing an additional 1,125 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Schlumberger were worth $986,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Bruce G. Allen Investments LLC boosted its position in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. ORG Partners LLC grew its stake in Schlumberger by 393.5% in 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 during the period. Unique Wealth Strategies LLC bought a new position in Schlumberger in the second quarter worth $30,000. Riverview Trust Co lifted its position in 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 buying an additional 308 shares during the period. Finally, First Community Trust NA boosted its holdings in shares of Schlumberger by 264.0% during the 2nd quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 528 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SLB shares. Bank of America lowered their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. BMO Capital Markets dropped their target price on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

Shares of SLB opened at $43.10 on Wednesday. The firm has a market cap of $60.86 billion, a PE ratio of 13.86, a P/E/G ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. 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 fifty day simple moving average of $42.53 and a two-hundred day simple moving average of $44.61.

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, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company 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 company earned $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.55%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were 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. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by insiders.

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.