DMC Group LLC Boosts Holdings in Schlumberger Limited $SLB

DMC Group LLC increased its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,958 shares of the oil and gas company’s stock after buying an additional 646 shares during the quarter. DMC Group LLC’s holdings in Schlumberger were worth $607,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. EntryPoint Capital LLC boosted its stake in shares of Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas lifted its position in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 318 shares in the last quarter. Horizon Investments LLC lifted its position in Schlumberger by 1.5% during the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after purchasing an additional 330 shares in the last quarter. CreativeOne Wealth LLC lifted its position in shares of Schlumberger by 6.3% during the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 335 shares in the last quarter. Finally, Forza Wealth Management LLC lifted its position in shares of Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company’s stock valued at $266,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Stifel Nicolaus lowered their price objective on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Susquehanna lowered their target price on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research note on Monday, July 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Schlumberger in a report on Saturday, September 27th. Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $52.18.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the firm’s 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 transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

Schlumberger Price Performance

NYSE SLB opened at $34.39 on Wednesday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $45.17. The firm has a market capitalization of $51.36 billion, a P/E ratio of 11.78, a P/E/G ratio of 9.60 and a beta of 0.97. 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 firm’s fifty day simple moving average is $34.58 and its two-hundred day simple moving average is $35.05.

Schlumberger (NYSE:SLB) last posted its quarterly 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. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business 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 dividend of $0.285 per share. 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%.

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.