Estabrook Capital Management Has $2.98 Million Holdings in Schlumberger Limited (NYSE:SLB)

Estabrook Capital Management boosted its stake in Schlumberger Limited (NYSE:SLB) by 85.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,164 shares of the oil and gas company’s stock after buying an additional 29,141 shares during the quarter. Estabrook Capital Management’s holdings in Schlumberger were worth $2,980,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in Schlumberger during the 1st quarter valued at about $27,000. Bruce G. Allen Investments LLC raised its stake in shares of Schlumberger by 204.2% in 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 last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the second quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its holdings in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Finally, Riverview Trust Co increased its holdings in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on SLB shares. Morgan Stanley reduced their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday. They issued a “buy” rating and a $64.50 price objective for the company. Piper Sandler reduced their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. UBS Group decreased their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale 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 company’s stock in a transaction that occurred 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 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 sold a total of 180,716 shares of company stock worth $9,048,624 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.8 %

NYSE:SLB opened at $42.41 on Friday. The firm has a market capitalization of $60.62 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.41. The business’s 50-day moving average price is $44.48 and its two-hundred day moving average price is $47.38. 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 data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared 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 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

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.