D.A. Davidson & CO. Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

D.A. Davidson & CO. decreased its position in Schlumberger Limited (NYSE:SLB) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,685 shares of the oil and gas company’s stock after selling 23,727 shares during the quarter. D.A. Davidson & CO.’s holdings in Schlumberger were worth $4,798,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BCM Advisors LLC boosted its holdings in shares of Schlumberger by 1.1% in the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock worth $1,036,000 after buying an additional 204 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in shares of Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares during the last quarter. Financial Advocates Investment Management grew its position in shares of 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 acquiring an additional 218 shares during the period. Hilltop Holdings Inc. grew its position in shares of 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 acquiring an additional 219 shares during the period. Finally, First PREMIER Bank increased its stake 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 in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In related news, 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 transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 185,696 shares of company stock worth $9,264,905. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Susquehanna cut their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. UBS Group lowered their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Citigroup dropped their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Trading Down 0.4 %

SLB opened at $43.99 on Tuesday. The stock has a 50-day moving average of $46.04 and a 200 day moving average of $48.15. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The firm has a market cap of $62.46 billion, a P/E ratio of 14.61, a P/E/G ratio of 0.94 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping 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 firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.