Bourgeon Capital Management LLC Buys 5,385 Shares of Schlumberger Limited $SLB

Bourgeon Capital Management LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 2.9% in the 2nd quarter, Holdings Channel.com reports. The firm owned 189,881 shares of the oil and gas company’s stock after purchasing an additional 5,385 shares during the period. Bourgeon Capital Management LLC’s holdings in Schlumberger were worth $6,418,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Union Bancaire Privee UBP SA raised its holdings in shares of Schlumberger by 88.2% in the second quarter. Union Bancaire Privee UBP SA now owns 6,766 shares of the oil and gas company’s stock worth $229,000 after buying an additional 3,170 shares during the period. Emerald Advisors LLC purchased a new stake in shares of Schlumberger in the second quarter worth approximately $352,000. Park Place Capital Corp raised its holdings in shares of Schlumberger by 7,707.1% in the second quarter. Park Place Capital Corp now owns 27,325 shares of the oil and gas company’s stock worth $962,000 after buying an additional 26,975 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Schlumberger by 32.6% in the second quarter. Capital Investment Advisors LLC now owns 10,726 shares of the oil and gas company’s stock worth $363,000 after buying an additional 2,638 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Schlumberger by 156.2% in the second quarter. Raleigh Capital Management Inc. now owns 11,436 shares of the oil and gas company’s stock worth $387,000 after buying an additional 6,972 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm’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 completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by insiders.

Schlumberger Stock Down 1.2%

Shares of NYSE SLB opened at $35.11 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $52.44 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05. The stock’s fifty day simple moving average is $34.68 and its two-hundred day simple moving average is $35.29. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15.

Schlumberger (NYSE:SLB) last announced its 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 business 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 business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. As a group, analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio (DPR) is presently 39.04%.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Zacks Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Jefferies Financial Group reduced their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. UBS Group reduced their price objective on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Finally, Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Schlumberger 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.