Delphi Management Inc. MA Buys Shares of 29,636 Schlumberger Limited (NYSE:SLB)

Delphi Management Inc. MA bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 29,636 shares of the oil and gas company’s stock, valued at approximately $1,398,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLB. Capital World Investors raised its holdings in Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Boston Partners grew its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Schlumberger during the 2nd quarter valued at $91,364,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

NYSE:SLB opened at $41.95 on Tuesday. The company’s 50 day moving average price is $43.68 and its 200-day moving average price is $46.96. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.20. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $59.96 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.92 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders 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 dividend yield of 2.62%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Piper Sandler lowered their price target on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Bank of America lowered their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.08.

Schlumberger Company 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.