Victory Capital Management Inc. Boosts Stake in Schlumberger Limited (NYSE:SLB)

Victory Capital Management Inc. raised its holdings in Schlumberger Limited (NYSE:SLBGet Rating) by 63.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 850,570 shares of the oil and gas company’s stock after acquiring an additional 329,720 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Schlumberger worth $33,181,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Sugarloaf Wealth Management LLC lifted its position in Schlumberger by 1,059.6% during the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 551 shares during the last quarter. JFS Wealth Advisors LLC lifted its holdings in shares of Schlumberger by 95.6% during the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 302 shares during the last quarter. Crewe Advisors LLC lifted its holdings in shares of Schlumberger by 768.4% during the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 584 shares during the last quarter. Riverview Trust Co purchased a new position in Schlumberger in the first quarter worth $29,000. Finally, Atwood & Palmer Inc. raised its position in Schlumberger by 482.8% during the first quarter. Atwood & Palmer Inc. now owns 845 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 700 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SLB shares. Wells Fargo & Company cut their price objective on Schlumberger from $56.00 to $55.00 and set an “overweight” rating for the company in a report on Monday, April 25th. The Goldman Sachs Group reduced their price target on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Benchmark upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Wednesday, July 27th. Cowen increased their target price on shares of Schlumberger from $47.00 to $49.00 and gave the company a “maintains” rating in a report on Monday, July 25th. Finally, StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $47.15.

Schlumberger Stock Up 0.8 %

Shares of NYSE SLB opened at $36.69 on Wednesday. The firm has a fifty day simple moving average of $38.80 and a two-hundred day simple moving average of $39.90. Schlumberger Limited has a 12 month low of $25.90 and a 12 month high of $49.83. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $51.89 billion, a PE ratio of 19.94, a price-to-earnings-growth ratio of 0.48 and a beta of 1.86.

Schlumberger (NYSE:SLBGet Rating) last released 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 company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. Schlumberger’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. Equities analysts expect that Schlumberger Limited will post 2 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 7th will be paid a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 annualized dividend and a yield of 1.91%. Schlumberger’s payout ratio is 38.04%.

Insiders Place Their Bets

In other news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 23,069,461 shares of the company’s stock, valued at approximately $392,180,837. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, insider Gavin Rennick sold 10,759 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $46.70, for a total value of $502,445.30. Following the sale, the insider now directly owns 38,044 shares of the company’s stock, valued at $1,776,654.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the insider now owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,067,459 shares of company stock worth $206,090,521. 0.28% of the stock is owned by corporate insiders.

Schlumberger Company Profile

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Want More Great Investing Ideas?

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.