Schlumberger Limited (NYSE:SLB) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 9.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 313,292 shares of the oil and gas company’s stock after purchasing an additional 26,090 shares during the quarter. ProShare Advisors LLC’s holdings in Schlumberger were worth $14,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new position in Schlumberger during the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Finally, Riverview Trust Co increased its stake in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLB has been the subject of a number of recent analyst reports. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Barclays lowered their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Evercore ISI raised their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.90 on Tuesday. The company has a 50 day moving average of $44.38 and a 200 day moving average of $47.31. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $61.32 billion, a P/E ratio of 14.25, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.41.

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

Schlumberger Dividend Announcement

The firm also recently disclosed 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 2.56%. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’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 sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were 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 of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’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 value of $492,900.00. Following the transaction, the director now directly 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. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate 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.