Ensign Peak Advisors Inc Acquires 109,470 Shares of Schlumberger Limited (NYSE:SLB)

Ensign Peak Advisors Inc boosted its holdings in Schlumberger Limited (NYSE:SLB) by 22.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 605,173 shares of the oil and gas company’s stock after buying an additional 109,470 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Schlumberger were worth $28,552,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SLB. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter valued at approximately $27,000. Bruce G. Allen Investments LLC raised 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 valued at $28,000 after buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter valued at approximately $30,000. Manchester Capital Management LLC raised 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 valued at $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co raised its holdings in 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 buying an additional 308 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was 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 in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was 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 in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 sale, the director now owns 62,354 shares in the company, 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 in the last three months. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have issued reports on SLB. TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada restated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. 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 report on Friday, June 28th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Schlumberger Stock Performance

NYSE SLB opened at $42.41 on Monday. The company has a fifty day simple moving average of $44.48 and a 200 day simple moving average of $47.36. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.41. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market cap of $60.62 billion, a P/E ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio 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.