Bright Rock Capital Management LLC Boosts Stake in Schlumberger Limited (NYSE:SLB)

Bright Rock Capital Management LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 50.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 150,000 shares of the oil and gas company’s stock after purchasing an additional 50,000 shares during the period. Bright Rock Capital Management LLC’s holdings in Schlumberger were worth $6,292,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Financial Advocates Investment Management grew its holdings in Schlumberger by 3.4% during 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 purchasing an additional 218 shares during the last quarter. Chilton Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares in the last quarter. First PREMIER Bank lifted its position in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the period. Team Hewins LLC boosted its stake in shares of Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 229 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in Schlumberger by 2.2% during the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 230 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $44.88 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market cap of $63.72 billion, a PE ratio of 14.91, a PEG ratio of 0.90 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.20. The firm has a fifty day moving average of $43.41 and a 200 day moving average of $46.86.

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

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 2.45%. Schlumberger’s payout ratio is presently 36.54%.

Analysts Set New Price Targets

SLB has been the topic of several recent research reports. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company decreased their price target on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Citigroup reduced their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.29.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s 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 transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. 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 in the last ninety days. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.