Raleigh Capital Management Inc. Buys 379 Shares of Schlumberger Limited (NYSE:SLB)

Raleigh Capital Management Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,578 shares of the oil and gas company’s stock after buying an additional 379 shares during the period. Raleigh Capital Management Inc.’s holdings in Schlumberger were worth $108,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC increased its stake in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the period. Register Financial Advisors LLC bought a new stake in shares of Schlumberger during the first quarter worth $27,000. Bruce G. Allen Investments LLC increased its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger in the second quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SLB shares. BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Evercore ISI decreased their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday. TD Cowen lowered their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.58.

Schlumberger Trading Down 1.2 %

Shares of SLB stock opened at $41.94 on Wednesday. The stock has a 50-day moving average of $43.03 and a 200-day moving average of $45.78. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $59.54 billion, a price-to-earnings ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $59.05.

Schlumberger (NYSE:SLB) last issued its quarterly 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 12.56% and a return on equity of 21.92%. The business 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 firm posted $0.78 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.44 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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio is currently 35.37%.

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.