Commonwealth Equity Services LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Commonwealth Equity Services LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 206,025 shares of the oil and gas company’s stock after buying an additional 18,136 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Schlumberger were worth $8,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SLB. Ropes Wealth Advisors LLC purchased a new stake in Schlumberger in the 1st quarter worth about $825,000. Banque Pictet & Cie SA raised its position in Schlumberger by 108.8% in the 1st quarter. Banque Pictet & Cie SA now owns 55,711 shares of the oil and gas company’s stock worth $2,301,000 after purchasing an additional 29,033 shares during the period. Northeast Investment Management raised its position in Schlumberger by 54.0% in the 1st quarter. Northeast Investment Management now owns 36,206 shares of the oil and gas company’s stock worth $1,496,000 after purchasing an additional 12,699 shares during the period. Carl Stuart Investment Advisor Inc. bought a new position in Schlumberger in the 1st quarter worth about $113,000. Finally, Gladstone Institutional Advisory LLC grew its stake in Schlumberger by 607.7% in the 1st quarter. Gladstone Institutional Advisory LLC now owns 54,092 shares of the oil and gas company’s stock worth $2,235,000 after acquiring an additional 46,449 shares in the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of SLB opened at $36.40 on Tuesday. The company has a 50 day moving average of $38.94 and a two-hundred day moving average of $39.92. The company has a market cap of $51.45 billion, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 0.48 and a beta of 1.86. Schlumberger Limited has a twelve month low of $25.90 and a twelve month high of $49.83. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.78.

Schlumberger (NYSE:SLBGet Rating) last posted its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts predict that Schlumberger Limited will post 2 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.92%. Schlumberger’s dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other Schlumberger news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the transaction, the insider now owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total transaction of $204,552,500.00. Following the completion of the transaction, the insider now owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 20,000 shares of the firm’s stock in a transaction on Friday, May 6th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the transaction, the director now directly owns 46,529 shares of the company’s stock, valued at approximately $2,015,636.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,067,459 shares of company stock valued at $206,090,521. Insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on SLB shares. Wells Fargo & Company dropped their target price on shares of Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. Stifel Nicolaus upped their target price on shares of Schlumberger from $44.00 to $50.00 in a research note on Friday, April 8th. Barclays upped their target price on shares of Schlumberger from $59.00 to $61.00 and gave the stock a “maintains” rating in a research note on Monday, July 25th. Cowen upped their target price on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Finally, The Goldman Sachs Group dropped their price objective on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, July 13th. Seventeen analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $47.15.

Schlumberger Company Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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