8,153 Shares in Schlumberger Limited (NYSE:SLB) Bought by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 8,153 shares of the oil and gas company’s stock, valued at approximately $385,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gryphon Financial Partners LLC lifted its holdings in Schlumberger by 46.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock worth $340,000 after acquiring an additional 2,068 shares during the last quarter. CreativeOne Wealth LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $214,000. SageView Advisory Group LLC boosted its position in Schlumberger by 82.5% during the 4th quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 3,145 shares during the period. TCW Group Inc. bought a new position in Schlumberger during the 4th quarter worth $1,199,000. Finally, Congress Wealth Management LLC DE increased its position in Schlumberger by 10.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 12,140 shares of the oil and gas company’s stock worth $632,000 after buying an additional 1,146 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent research reports. Citigroup lowered 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. UBS Group decreased their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. TD Cowen increased their price objective on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Insider Buying and Selling

In other Schlumberger 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 sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Down 0.8 %

SLB stock opened at $42.41 on Monday. The firm has a market cap of $60.62 billion, a PE ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.41. 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 firm has a 50 day simple moving average of $44.48 and a 200 day simple moving average of $47.36.

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

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. 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.