Foundations Investment Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Foundations Investment Advisors LLC lifted its position in Schlumberger Limited (NYSE:SLBGet Rating) by 4.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 7,943 shares of the oil and gas company’s stock after purchasing an additional 341 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Schlumberger were worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC raised its stake in shares of Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 551 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Schlumberger during the first quarter valued at approximately $25,000. JFS Wealth Advisors LLC raised its position in Schlumberger by 95.6% during the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 302 shares in the last quarter. WD Rutherford LLC purchased a new position in Schlumberger during the first quarter valued at approximately $26,000. Finally, Crewe Advisors LLC raised its position in Schlumberger by 768.4% during the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 584 shares in the last quarter. 78.71% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $38.37 on Monday. Schlumberger Limited has a 52 week low of $26.64 and a 52 week high of $49.83. The business’s fifty day simple moving average is $36.50 and its 200-day simple moving average is $39.55. The firm has a market cap of $54.27 billion, a PE ratio of 20.85, a price-to-earnings-growth ratio of 0.49 and a beta of 1.81. 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 data on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.28 billion. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 EPS. Equities analysts forecast that Schlumberger Limited will post 2.02 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors 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 annualized dividend and a dividend yield of 1.82%. Schlumberger’s dividend payout ratio is presently 38.04%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Barclays lifted their price target on Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. Morgan Stanley reduced their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, July 13th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Benchmark upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, July 27th. Finally, Cowen boosted their price objective on Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, July 25th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.01.

Schlumberger 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.

See Also

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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