PVG Asset Management Corp Invests $386,000 in Schlumberger Limited (NYSE:SLB)

PVG Asset Management Corp purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 9,196 shares of the oil and gas company’s stock, valued at approximately $386,000. Schlumberger makes up approximately 1.5% of PVG Asset Management Corp’s holdings, making the stock its 20th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in SLB. State Street Corp grew its stake in Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after buying an additional 528,279 shares in the last quarter. Geode Capital Management LLC raised its position in Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Schlumberger by 1.2% during the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after buying an additional 100,477 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB traded down $0.42 on Thursday, hitting $41.14. The stock had a trading volume of 293,412 shares, compared to its average volume of 11,110,456. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The stock has a market cap of $58.10 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.51. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $42.91 and its two-hundred day simple moving average is $44.07.

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

Schlumberger Announces Dividend

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 paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’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 of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company dropped their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group dropped 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. Three investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.91.

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.