Lighthouse Investment Partners LLC Invests $1.18 Million in Schlumberger Limited (NYSE:SLB)

Lighthouse Investment Partners LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) during the second quarter, Holdings Channel reports. The institutional investor purchased 25,000 shares of the oil and gas company’s stock, valued at approximately $1,180,000.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Checchi Capital Advisers LLC increased its stake in Schlumberger by 1.9% in the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after purchasing an additional 204 shares in the last quarter. Financial Advocates Investment Management increased its position in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 218 shares in the last quarter. Chilton Capital Management LLC raised its stake in Schlumberger by 0.8% during the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares during the period. First PREMIER Bank lifted its holdings in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 227 shares in the last quarter. Finally, Team Hewins LLC grew its stake in Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after acquiring an additional 229 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was 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 SEC, which is accessible through this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’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 owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was 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 of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Bank of America dropped their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Susquehanna dropped their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Dbs Bank assumed coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Finally, Citigroup cut their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.08.

Schlumberger Trading Up 2.7 %

Shares of Schlumberger stock opened at $42.29 on Friday. The stock has a market cap of $60.05 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.92 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.41. The business’s 50 day moving average is $43.83 and its 200-day moving average is $47.08.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) 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 firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.60%. Schlumberger’s dividend payout ratio (DPR) is currently 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.