Schlumberger Limited (NYSE:SLB) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. increased its stake in Schlumberger Limited (NYSE:SLB) by 1.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,541 shares of the oil and gas company’s stock after acquiring an additional 398 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Schlumberger were worth $1,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Register Financial Advisors LLC purchased a new position in Schlumberger in the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC raised its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC raised its holdings in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co raised its holdings in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE:SLB opened at $39.57 on Thursday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $62.12. The firm’s fifty day simple moving average is $45.17 and its 200 day simple moving average is $47.76. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $56.18 billion, a PE ratio of 13.15, a PEG ratio of 0.87 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 (EPS) 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 business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period last year, the business posted $0.72 EPS. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.78%. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 $12,432,012.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SLB shares. Piper Sandler cut their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Evercore ISI boosted their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Barclays lowered their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Susquehanna lowered their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Finally, TD Cowen boosted their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

Schlumberger 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.