LifePlan Financial LLC Buys 1,046 Shares of Schlumberger Limited (NYSE:SLB)

LifePlan Financial LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 6.0% during the third quarter, HoldingsChannel reports. The firm owned 18,422 shares of the oil and gas company’s stock after acquiring an additional 1,046 shares during the period. LifePlan Financial LLC’s holdings in Schlumberger were worth $773,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the 1st quarter worth $27,000. Bruce G. Allen Investments LLC raised its position in shares of 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 valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Finally, Riverview Trust Co grew its position in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on 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 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 at this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’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 of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last ninety days. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Citigroup reduced their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. TD Cowen lifted their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $65.29.

Schlumberger Price Performance

SLB opened at $44.88 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 stock’s 50 day simple moving average is $43.41 and its 200 day simple moving average is $46.86. The firm has a market cap of $63.72 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 0.90 and a beta of 1.51. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.20.

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

Schlumberger Dividend Announcement

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 issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.45%. Schlumberger’s dividend payout ratio is currently 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.