State of Alaska Department of Revenue Boosts Holdings in Schlumberger Limited (NYSE:SLB)

State of Alaska Department of Revenue increased its holdings in Schlumberger Limited (NYSE:SLBGet Rating) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,006 shares of the oil and gas company’s stock after buying an additional 5,485 shares during the quarter. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $7,259,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Sugarloaf Wealth Management LLC lifted its holdings 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 in the last quarter. JFS Wealth Advisors LLC raised its position in shares of 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 buying an additional 302 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $25,000. WD Rutherford LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $26,000. Finally, Crewe Advisors LLC raised its position in shares of 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 buying an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 78.71% of the company’s stock.

Schlumberger Stock Performance

SLB stock opened at $38.97 on Tuesday. Schlumberger Limited has a one year low of $26.64 and a one year high of $49.83. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.35. The firm has a market cap of $55.12 billion, a price-to-earnings ratio of 21.18, a PEG ratio of 0.49 and a beta of 1.81. The firm has a 50-day simple moving average of $36.50 and a two-hundred day simple moving average of $39.55.

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. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 2.02 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared 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 is Tuesday, September 6th. This represents a $0.70 annualized dividend and a yield of 1.80%. Schlumberger’s dividend payout ratio (DPR) is presently 38.04%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Morgan Stanley reduced their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. Cowen boosted their price target on shares of Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research report on Monday, July 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. Finally, Benchmark upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $47.01.

About Schlumberger

(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.

Featured Articles

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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.