Interval Partners LP Buys New Shares in Schlumberger Limited (NYSE:SLB)

Interval Partners LP acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 123,354 shares of the oil and gas company’s stock, valued at approximately $5,820,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. Gryphon Financial Partners LLC increased its stake in Schlumberger by 46.3% during the 4th 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 in the last quarter. SageView Advisory Group LLC boosted its stake in Schlumberger by 82.5% during the 4th quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 3,145 shares during the last quarter. Congress Wealth Management LLC DE boosted its stake in Schlumberger by 10.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 12,140 shares of the oil and gas company’s stock valued at $632,000 after purchasing an additional 1,146 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in Schlumberger during the 4th quarter valued at about $51,000. Finally, Hilltop Holdings Inc. boosted its stake in Schlumberger by 2.1% during the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 1.2 %

Schlumberger stock opened at $42.90 on Tuesday. The stock has a market cap of $61.32 billion, a P/E ratio of 14.25, a PEG ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.41. The firm’s fifty day moving average price is $44.38 and its 200-day moving average price is $47.31. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings results 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. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.56%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Schlumberger 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 completion of the sale, 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 document filed with the SEC, which is accessible through this link. 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 sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. TD Cowen boosted their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

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.