Archer Investment Corp Grows Stake in Schlumberger Limited (NYSE:SLB)

Archer Investment Corp lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9,418.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,092 shares of the oil and gas company’s stock after acquiring an additional 6,028 shares during the quarter. Archer Investment Corp’s holdings in Schlumberger were worth $256,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. Capital World Investors grew its stake in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Boston Partners lifted its position in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares during the period. Ceredex Value Advisors LLC bought a new stake in Schlumberger during the second quarter worth about $92,944,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Schlumberger during the second quarter valued at approximately $91,364,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.6 %

SLB stock opened at $43.18 on Friday. The company has a market cap of $60.98 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 1.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The business’s 50-day moving average is $42.40 and its two-hundred day moving average is $44.71. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the prior year, the business earned $0.78 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

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 of this dividend 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%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. TD Cowen dropped their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Finally, BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by insiders.

Schlumberger Company 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.