GM Advisory Group LLC Reduces Position in Schlumberger Limited (NYSE:SLB)

GM Advisory Group LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 18.7% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,454 shares of the oil and gas company’s stock after selling 1,480 shares during the quarter. GM Advisory Group LLC’s holdings in Schlumberger were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the last quarter. Capital World Investors boosted its stake in shares of Schlumberger by 72.3% during 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 acquiring an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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 worth $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Capital International Investors lifted its stake 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 buying an additional 89,483 shares in the last quarter. Finally, Boston Partners lifted its stake in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SLB shares. Barclays lowered their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note 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. Citigroup lowered their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Stock Performance

Schlumberger stock opened at $42.76 on Friday. The company’s 50-day moving average price is $44.56 and its 200-day moving average price is $47.45. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41. 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 company has a market cap of $60.71 billion, a PE ratio of 14.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51.

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, topping 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 firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the firm posted $0.72 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.57%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’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 in the company, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’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 in the company, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. 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.