16,708 Shares in Schlumberger Limited (NYSE:SLB) Bought by Brown Financial Advisors

Brown Financial Advisors acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,708 shares of the oil and gas company’s stock, valued at approximately $788,000.

Several other hedge funds have also added to or reduced their stakes in the business. New Century Financial Group LLC acquired a new stake in Schlumberger during the 2nd quarter worth $1,043,000. Delphi Management Inc. MA acquired a new stake in Schlumberger during the 2nd quarter worth $1,398,000. Cetera Investment Advisers raised its stake in Schlumberger by 10.1% during the 2nd quarter. Cetera Investment Advisers now owns 238,145 shares of the oil and gas company’s stock worth $11,236,000 after buying an additional 21,760 shares during the period. McGinn Penninger Investment Management Inc. raised its stake in Schlumberger by 2.7% during the 2nd quarter. McGinn Penninger Investment Management Inc. now owns 87,765 shares of the oil and gas company’s stock worth $4,141,000 after buying an additional 2,345 shares during the period. Finally, EP Wealth Advisors LLC raised its stake in shares of Schlumberger by 30.3% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,908 shares of the oil and gas company’s stock valued at $326,000 after purchasing an additional 1,606 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $43.14 on Wednesday. The business’s 50 day moving average price is $43.56 and its two-hundred day moving average price is $46.89. The company has a market cap of $61.25 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.90 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 twelve month low of $38.66 and a twelve month high of $61.20.

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 firm had revenue of $9.14 billion for 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 business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared 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. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SLB. Bank of America cut their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Barclays cut their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. UBS Group cut their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.78.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated 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 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 available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 180,716 shares of company stock valued at $9,048,624 over the last 90 days. 0.26% of the stock is currently owned by insiders.

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.