BTC Capital Management Inc. Has $691,000 Stake in Schlumberger Limited $SLB

BTC Capital Management Inc. grew its position in Schlumberger Limited (NYSE:SLB) by 47.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,438 shares of the oil and gas company’s stock after buying an additional 6,563 shares during the quarter. BTC Capital Management Inc.’s holdings in Schlumberger were worth $691,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Nuveen LLC acquired a new position in shares of Schlumberger during the first quarter worth $169,232,000. Scharf Investments LLC raised its stake in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock valued at $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after purchasing an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. bought a new stake in shares of Schlumberger in the first quarter worth $308,000. Finally, Stratos Investment Management LLC raised its position in Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after purchasing an additional 103,182 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.8%

SLB opened at $34.47 on Monday. The firm has a 50-day simple moving average of $34.66 and a two-hundred day simple moving average of $35.54. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $51.49 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 9.56 and a beta of 1.05.

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

Schlumberger Announces Dividend

The firm also recently disclosed 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. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 39.04%.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SLB. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Melius Research assumed coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price objective for the company. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Finally, Barclays decreased their price objective on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

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.