Dorsey & Whitney Trust CO LLC Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Dorsey & Whitney Trust CO LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 38.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,836 shares of the oil and gas company’s stock after buying an additional 1,912 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Schlumberger were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. LGT Group Foundation grew its stake in Schlumberger by 14.5% during the 2nd quarter. LGT Group Foundation now owns 175,786 shares of the oil and gas company’s stock worth $8,294,000 after buying an additional 22,269 shares during the last quarter. Longfellow Investment Management Co. LLC lifted its position in shares of Schlumberger by 135.8% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 9,474 shares of the oil and gas company’s stock valued at $447,000 after acquiring an additional 5,456 shares during the last quarter. Tiff Advisory Services LLC boosted its stake in shares of Schlumberger by 106.0% during the 2nd quarter. Tiff Advisory Services LLC now owns 8,021 shares of the oil and gas company’s stock worth $378,000 after acquiring an additional 4,127 shares in the last quarter. Choreo LLC grew its holdings in shares of Schlumberger by 605.5% in the 2nd quarter. Choreo LLC now owns 36,107 shares of the oil and gas company’s stock worth $1,684,000 after acquiring an additional 30,989 shares during the last quarter. Finally, Wedbush Securities Inc. increased its stake in Schlumberger by 39.1% in the 2nd quarter. Wedbush Securities Inc. now owns 22,031 shares of the oil and gas company’s stock worth $1,039,000 after purchasing an additional 6,191 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 0.6 %

Schlumberger stock opened at $39.80 on Friday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $62.03. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $45.02 and a 200-day moving average price of $47.70. The company has a market capitalization of $56.89 billion, a P/E ratio of 13.22, a P/E/G ratio of 0.87 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. 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 firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. As a group, equities analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Barclays decreased their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Susquehanna lowered their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Bank of America dropped their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Citigroup dropped their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price 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.