Schlumberger Limited (NYSE:SLB) Shares Purchased by Estabrook Capital Management

Estabrook Capital Management raised its holdings in Schlumberger Limited (NYSE:SLB) by 85.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,164 shares of the oil and gas company’s stock after acquiring an additional 29,141 shares during the quarter. Estabrook Capital Management’s holdings in Schlumberger were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $27,000. Manchester Capital Management LLC lifted its position 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 acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its stake in shares of Schlumberger by 204.2% during the 2nd 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 in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger in the 4th quarter worth $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter worth $30,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. UBS Group decreased 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. Bank of America dropped their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Susquehanna reduced their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday. They set a “buy” rating and a $64.50 price objective on the stock. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two equities research 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

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 dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was 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 approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.8 %

Shares of NYSE:SLB opened at $42.41 on Friday. 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 stock’s 50-day moving average is $44.48 and its 200-day moving average is $47.38. The company has a market cap of $60.62 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.41.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s 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.