Rockefeller Capital Management L.P. Has $17.41 Million Stake in Schlumberger Limited (NYSE:SLB)

Rockefeller Capital Management L.P. raised its position in Schlumberger Limited (NYSE:SLB) by 92.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 414,618 shares of the oil and gas company’s stock after buying an additional 199,047 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Schlumberger were worth $17,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Isthmus Partners LLC increased its holdings in Schlumberger by 2.4% in the 3rd quarter. Isthmus Partners LLC now owns 261,999 shares of the oil and gas company’s stock valued at $10,991,000 after buying an additional 6,092 shares during the period. Vinva Investment Management Ltd increased its holdings in Schlumberger by 17.3% in the 3rd quarter. Vinva Investment Management Ltd now owns 65,117 shares of the oil and gas company’s stock valued at $2,754,000 after buying an additional 9,581 shares during the period. Financial Counselors Inc. increased its holdings in Schlumberger by 25.2% in the 3rd quarter. Financial Counselors Inc. now owns 337,431 shares of the oil and gas company’s stock valued at $14,155,000 after buying an additional 67,938 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Schlumberger by 20.6% in 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 buying an additional 1,916,851 shares during the period. Finally, Fiduciary Trust Co increased its holdings in Schlumberger by 25.8% in the 3rd quarter. Fiduciary Trust Co now owns 57,084 shares of the oil and gas company’s stock valued at $2,395,000 after buying an additional 11,714 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLB. Evercore ISI decreased their price target on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a report on Monday, October 21st. Finally, Barclays decreased their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock 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 on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 0.6 %

NYSE:SLB opened at $43.94 on Monday. The firm’s fifty day moving average is $42.98 and its 200-day moving average is $44.36. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The firm has a market cap of $62.05 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.55 and a beta of 1.52.

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 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 company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the firm posted $0.78 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The business 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 2.50%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 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.