Schlumberger Limited (NYSE:SLB) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 392,899 shares of the oil and gas company’s stock after acquiring an additional 6,998 shares during the period. Sei Investments Co.’s holdings in Schlumberger were worth $18,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Register Financial Advisors LLC acquired a new position in Schlumberger in the 1st quarter valued at about $27,000. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC grew its position in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new stake in Schlumberger during the fourth quarter worth $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter worth $30,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SLB. Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Susquehanna reduced their price target 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. Evercore ISI increased their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.08.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’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 completion of the transaction, 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 document filed with the SEC, which is available at this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was 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 directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s 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 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 have sold 180,716 shares of company stock worth $9,048,624 over the last three months. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $41.80 on Thursday. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm’s fifty day simple moving average is $44.27 and its 200-day simple moving average is $47.26. The firm has a market capitalization of $59.35 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 0.92 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41.

Schlumberger (NYSE:SLB) last announced its quarterly 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 return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the business earned $0.72 EPS. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts forecast 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

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.