Schlumberger Limited (NYSE:SLB) Stock Position Lifted by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 40.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,990 shares of the oil and gas company’s stock after buying an additional 5,179 shares during the period. Brown Brothers Harriman & Co.’s holdings in Schlumberger were worth $849,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares in the last quarter. Crescent Grove Advisors LLC bought a new position in Schlumberger during the second quarter valued at about $257,000. National Bank of Canada FI boosted its stake in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares in the last quarter. Mission Wealth Management LP bought a new position in Schlumberger during the first quarter valued at about $245,000. Finally, Canada Pension Plan Investment Board boosted its stake in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after buying an additional 64,974 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $41.50 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.78. The company’s fifty day moving average is $44.71 and its 200-day moving average is $47.52. The firm has a market cap of $59.32 billion, a price-to-earnings ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLB. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. UBS Group reduced their target price on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Finally, Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $66.72.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 over the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Company 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.