Morningstar Investment Services LLC increased its position in Schlumberger Limited. (NYSE:SLB) by 44.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 28,390 shares of the oil and gas company’s stock after purchasing an additional 8,741 shares during the period. Morningstar Investment Services LLC’s holdings in Schlumberger were worth $1,128,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quad Cities Investment Group LLC purchased a new position in Schlumberger during the second quarter worth approximately $32,000. Mizuho Securities Co. Ltd. bought a new stake in Schlumberger in the 2nd quarter valued at about $32,000. Lenox Wealth Management Inc. grew its position in shares of Schlumberger by 41.1% during the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 256 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in shares of Schlumberger during the 1st quarter worth approximately $38,000. Finally, Acima Private Wealth LLC increased its holdings in shares of Schlumberger by 141.9% during the first quarter. Acima Private Wealth LLC now owns 924 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 542 shares during the period. 76.94% of the stock is owned by hedge funds and other institutional investors.
In other Schlumberger news, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
NYSE SLB traded up $0.29 on Wednesday, hitting $37.75. The stock had a trading volume of 1,199,952 shares, compared to its average volume of 10,999,077. The firm has a 50-day moving average of $34.98 and a 200-day moving average of $39.47. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger Limited. has a 52-week low of $31.03 and a 52-week high of $63.65. The company has a market capitalization of $50.11 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 2.54 and a beta of 1.49.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The firm had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 earnings per share. As a group, research analysts anticipate that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.30%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is currently 123.46%.
A number of equities research analysts have recently weighed in on the stock. AltaCorp Capital reiterated an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research note on Monday. Piper Jaffray Companies set a $40.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, July 1st. Bank of America cut their target price on Schlumberger from $51.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Finally, Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $51.44.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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