National Bank of Canada FI Has $22.69 Million Stock Position in Schlumberger Limited (NYSE:SLB)

National Bank of Canada FI raised its holdings in Schlumberger Limited (NYSE:SLB) by 22.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 486,864 shares of the oil and gas company’s stock after acquiring an additional 90,482 shares during the quarter. National Bank of Canada FI’s holdings in Schlumberger were worth $22,686,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Gryphon Financial Partners LLC increased its position in Schlumberger by 46.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 2,068 shares during the period. Wealthspire Advisors LLC increased its position in shares of Schlumberger by 22.5% during the fourth quarter. Wealthspire Advisors LLC now owns 5,600 shares of the oil and gas company’s stock worth $291,000 after buying an additional 1,027 shares during the period. Montag A & Associates Inc. increased its position in shares of Schlumberger by 17.5% during the fourth quarter. Montag A & Associates Inc. now owns 10,929 shares of the oil and gas company’s stock worth $572,000 after buying an additional 1,629 shares during the period. Principal Securities Inc. acquired a new stake in shares of Schlumberger during the fourth quarter worth $497,000. Finally, Cary Street Partners Investment Advisory LLC increased its position in shares of Schlumberger by 14.1% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 10,175 shares of the oil and gas company’s stock worth $530,000 after buying an additional 1,261 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 1.5 %

Schlumberger stock opened at $40.62 on Friday. Schlumberger Limited has a 1-year low of $40.37 and a 1-year high of $62.12. The firm has a market capitalization of $58.06 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. The firm’s fifty day moving average price is $45.59 and its two-hundred day moving average price is $47.96. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

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

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Citigroup decreased their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

About Schlumberger

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.