MQS Management LLC Makes New $685,000 Investment in Schlumberger Limited (NYSE:SLB)

MQS Management LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 14,517 shares of the oil and gas company’s stock, valued at approximately $685,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Gryphon Financial Partners LLC lifted its position in shares of Schlumberger by 46.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock worth $340,000 after buying an additional 2,068 shares during the last quarter. Financial Advocates Investment Management lifted its holdings in Schlumberger by 25.5% in the 4th quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock worth $322,000 after purchasing an additional 1,259 shares during the last quarter. Gladstone Institutional Advisory LLC boosted its position in Schlumberger by 42.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after purchasing an additional 2,570 shares during the period. Clearbridge Investments LLC grew its holdings in Schlumberger by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 638,472 shares of the oil and gas company’s stock valued at $33,226,000 after purchasing an additional 18,342 shares during the last quarter. Finally, Sachetta LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $63,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’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 completion of the transaction, 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 Securities & Exchange Commission, which is available through this link. In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 in the last 90 days. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Susquehanna lowered their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Barclays dropped their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note 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 report on Wednesday. Finally, TD Cowen raised their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Price Performance

Shares of SLB stock opened at $41.44 on Thursday. The stock has a 50 day moving average of $44.63 and a two-hundred day moving average of $47.48. 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 $38.66 and a 12 month high of $61.70. The company has a market capitalization of $59.22 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.85 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The business 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%. Schlumberger’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.72 EPS. As a group, equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently announced 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 is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.