Envestnet Asset Management Inc. Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Envestnet Asset Management Inc. increased its position in Schlumberger Limited (NYSE:SLB) by 10.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 927,875 shares of the oil and gas company’s stock after acquiring an additional 87,236 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Schlumberger worth $43,777,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.4% in the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the last quarter. Capital World Investors raised its position in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Capital International Investors boosted its holdings in shares of Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the last quarter. Finally, Boston Partners lifted its position in Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger 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 sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the 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 directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’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 transaction, 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. Over the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen lifted their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group reduced their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Trading Up 3.2 %

Shares of SLB stock opened at $42.76 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a fifty day simple moving average of $44.56 and a two-hundred day simple moving average of $47.45. The firm has a market capitalization of $60.71 billion, a PE ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.41.

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

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.