Capital Investment Counsel Inc Acquires 700 Shares of Schlumberger Limited (NYSE:SLB)

Capital Investment Counsel Inc boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.2% in the third quarter, Holdings Channel reports. The firm owned 12,021 shares of the oil and gas company’s stock after purchasing an additional 700 shares during the quarter. Capital Investment Counsel Inc’s holdings in Schlumberger were worth $504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth approximately $27,000. Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC increased its holdings in shares of 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 increased its holdings 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 worth $25,000 after buying an additional 484 shares in the last quarter. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth approximately $30,000. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Evercore ISI lowered their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Trading Up 0.5 %

SLB opened at $42.13 on Thursday. The stock has a market capitalization of $59.82 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $59.05. The firm’s fifty day simple moving average is $43.00 and its 200 day simple moving average is $45.75. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

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. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. As a group, research analysts anticipate that Schlumberger Limited will post 3.44 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given 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 2.61%. Schlumberger’s dividend payout ratio is currently 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.