Goelzer Investment Management Inc. Cuts Stake in Schlumberger Limited $SLB

Goelzer Investment Management Inc. trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 5.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,525 shares of the oil and gas company’s stock after selling 4,737 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Schlumberger were worth $2,553,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Command Advisory Services Inc. increased its position in shares of Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in shares of Schlumberger during the first quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 350 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in Schlumberger in the first quarter worth about $34,000. Finally, Park Square Financial Group LLC acquired a new position in Schlumberger in the first quarter worth about $38,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $35.26 on Wednesday. The stock has a market cap of $52.67 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 9.64 and a beta of 1.05. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The stock’s 50 day moving average price is $34.79 and its 200 day moving average price is $35.67. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The firm’s revenue was down 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio is currently 39.04%.

Analysts Set New Price Targets

A number of equities analysts recently commented on SLB shares. Melius Research started coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target for the company. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. UBS Group decreased their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Finally, Stifel Nicolaus decreased their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $52.86.

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.