Kings Path Partners LLC Acquires New Holdings in Schlumberger Limited (NYSE:SLB)

Kings Path Partners LLC bought a new position in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,623 shares of the oil and gas company’s stock, valued at approximately $62,000.

Several other large investors have also recently bought and sold shares of the company. ORG Partners LLC raised its position in shares of 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 buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger during the 3rd quarter valued at about $47,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SLB. Susquehanna lowered their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI lowered their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.25.

Schlumberger Trading Up 1.0 %

Schlumberger stock traded up $0.38 during trading hours on Monday, reaching $38.97. The stock had a trading volume of 4,547,011 shares, compared to its average volume of 8,731,761. The company has a fifty day simple moving average of $41.12 and a 200-day simple moving average of $43.32. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market cap of $55.03 billion, a PE ratio of 12.53, a PEG ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 earnings per share. Analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.82%. Schlumberger’s dividend payout ratio is presently 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.