Arosa Capital Management LP Acquires Shares of 20,000 Schlumberger Limited (NYSE:SLB)

Arosa Capital Management LP bought a new position in Schlumberger Limited (NYSE:SLB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 20,000 shares of the oil and gas company’s stock, valued at approximately $839,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. ORG Partners LLC increased 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 valued at $25,000 after purchasing an additional 484 shares in the last quarter. Bruce G. Allen Investments LLC grew its stake in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter worth about $29,000. Unique Wealth Strategies LLC bought a new stake in Schlumberger during the 2nd quarter valued at about $30,000. Finally, Riverview Trust Co grew its holdings 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 buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Morgan Stanley reduced their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Barclays decreased their target price 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. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.6 %

Shares of Schlumberger stock opened at $43.94 on Monday. The company has a fifty day simple moving average of $42.98 and a 200-day simple moving average of $44.36. The stock has a market cap of $62.05 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month 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.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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 return on equity of 21.84% and a net margin of 12.44%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm earned $0.78 EPS. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.50%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.