Schlumberger Limited (NYSE:SLB) Stake Raised by Profund Advisors LLC

Profund Advisors LLC raised its holdings in Schlumberger Limited (NYSE:SLB) by 7.4% in the second quarter, Holdings Channel.com reports. The fund owned 86,155 shares of the oil and gas company’s stock after acquiring an additional 5,949 shares during the period. Profund Advisors LLC’s holdings in Schlumberger were worth $4,065,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Gryphon Financial Partners LLC lifted its stake in Schlumberger by 46.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 2,068 shares during the last quarter. CreativeOne Wealth LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $214,000. US Bancorp DE boosted its stake in shares of Schlumberger by 64.3% during the 4th quarter. US Bancorp DE now owns 820,154 shares of the oil and gas company’s stock worth $42,681,000 after acquiring an additional 321,078 shares in the last quarter. FineMark National Bank & Trust grew its holdings in shares of Schlumberger by 5.0% in the 4th quarter. FineMark National Bank & Trust now owns 13,835 shares of the oil and gas company’s stock worth $720,000 after acquiring an additional 657 shares during the last quarter. Finally, SageView Advisory Group LLC raised its position in shares of Schlumberger by 82.5% during the fourth quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 3,145 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Dbs Bank started coverage on Schlumberger in a report on Wednesday. They issued a “buy” rating and a $64.50 target price for the company. Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Evercore ISI raised their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s 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 in the company, valued at $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger 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 transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. 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 that occurred 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 sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 over the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.8 %

Schlumberger stock opened at $42.41 on Friday. The company has a market capitalization of $60.22 billion, a P/E ratio of 14.09, a P/E/G 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 firm’s fifty day simple moving average is $44.48 and its 200-day simple moving average 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 announced its quarterly 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. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. 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 2.59%. Schlumberger’s payout ratio is currently 36.54%.

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.