Schlumberger Limited (NYSE:SLB) is Drexel Morgan & Co.’s 10th Largest Position

Drexel Morgan & Co. raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 342,412 shares of the oil and gas company’s stock after acquiring an additional 2,260 shares during the period. Schlumberger makes up about 3.5% of Drexel Morgan & Co.’s portfolio, making the stock its 10th biggest position. Drexel Morgan & Co.’s holdings in Schlumberger were worth $16,155,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its position 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 purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth approximately $30,000. Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co lifted its stake in shares of Schlumberger by 90.6% in the 2nd 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 during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 3.2 %

Shares of SLB opened at $42.76 on Friday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.41. The firm has a market cap of $60.71 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The company’s 50-day moving average price is $44.56 and its 200 day moving average price is $47.45. 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 (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.57%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Analysts Set New Price Targets

Several analysts recently commented on SLB shares. Citigroup dropped their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Susquehanna dropped their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Finally, UBS Group reduced their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $66.29.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred 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 sale, 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 is available through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were 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 directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. 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. Company insiders own 0.26% of the company’s stock.

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.