Alaethes Wealth LLC Acquires 750 Shares of Schlumberger Limited (NYSE:SLB)

Alaethes Wealth LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 24,340 shares of the oil and gas company’s stock after purchasing an additional 750 shares during the quarter. Alaethes Wealth LLC’s holdings in Schlumberger were worth $1,155,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BCM Advisors LLC raised its holdings in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock worth $1,036,000 after acquiring an additional 204 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of 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 boosted its position in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after buying an additional 219 shares in the last quarter. Finally, Chilton Capital Management LLC raised its position in 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 buying an additional 219 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Bank of America lowered their price target 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. Morgan Stanley reduced their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Evercore ISI lifted 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. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Trading Down 0.8 %

Shares of Schlumberger stock opened at $42.41 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a fifty day simple moving average of $44.48 and a two-hundred day simple moving average of $47.40. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.41. The company has a market capitalization of $60.22 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger 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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is 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.