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

Raleigh Capital Management Inc. increased its holdings in Schlumberger Limited (NYSE:SLB) by 17.2% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,578 shares of the oil and gas company’s stock after buying an additional 379 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Schlumberger were worth $108,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in Schlumberger in the 1st quarter worth $27,000. Bruce G. Allen Investments LLC boosted its holdings in shares of Schlumberger by 204.2% during 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 purchasing an additional 392 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger during the 2nd quarter valued at approximately $30,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $41.94 on Wednesday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $59.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The stock has a fifty day moving average price of $43.03 and a 200 day moving average price of $45.78. The company has a market cap of $59.54 billion, a P/E ratio of 13.48, a PEG ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.62%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SLB shares. TD Cowen decreased their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday. Piper Sandler dropped their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Monday. Finally, Wells Fargo & Company dropped their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $61.58.

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.