Schlumberger Limited (NYSE:SLB) Shares Bought by PFG Investments LLC

PFG Investments LLC increased its holdings in Schlumberger Limited (NYSE:SLB) by 6.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,734 shares of the oil and gas company’s stock after buying an additional 1,013 shares during the period. PFG Investments LLC’s holdings in Schlumberger were worth $742,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. Register Financial Advisors LLC acquired a new position in Schlumberger in the 1st quarter worth approximately $27,000. Bruce G. Allen Investments LLC increased its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC acquired a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Manchester Capital Management LLC increased its holdings 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 worth $31,000 after buying an additional 426 shares during the period. Finally, Riverview Trust Co boosted its position in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 2.0 %

Shares of SLB stock opened at $39.59 on Wednesday. The stock’s fifty day moving average is $45.33 and its two-hundred day moving average is $47.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $56.21 billion, a P/E ratio of 13.15, a PEG ratio of 0.87 and a beta of 1.52. Schlumberger Limited has a fifty-two week low of $39.12 and a fifty-two week high of $62.12.

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

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLB shares. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Susquehanna lowered their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Barclays lowered their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, Citigroup lowered their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insiders Place Their Bets

In other Schlumberger 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Schlumberger 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction 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 directly 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 sold 180,716 shares of company stock valued at $9,048,624 in the last three months. 0.26% of the stock is currently 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.