New Century Financial Group LLC Acquires New Shares in Schlumberger Limited (NYSE:SLB)

New Century Financial Group LLC bought a new position in Schlumberger Limited (NYSE:SLB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,100 shares of the oil and gas company’s stock, valued at approximately $1,043,000.

Other hedge funds have also recently modified their holdings of the company. Checchi Capital Advisers LLC increased its holdings in Schlumberger by 1.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after buying an additional 204 shares in the last quarter. Financial Advocates Investment Management grew its stake in shares of Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares during the period. Chilton Capital Management LLC raised its holdings in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the last quarter. First PREMIER Bank lifted its position in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 227 shares during the period. Finally, Team Hewins LLC boosted its holdings in Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction 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 owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated 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 $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. 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 three months. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Morgan Stanley decreased their target price 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. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. TD Cowen upped their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, UBS Group dropped their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $66.08.

Schlumberger Stock Down 0.8 %

SLB opened at $41.95 on Tuesday. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.20. 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 has a market cap of $59.96 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51. The firm’s fifty day moving average is $43.68 and its 200 day moving average is $46.96.

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 the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the previous year, the business earned $0.72 earnings per share. The business’s revenue 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 fiscal year.

Schlumberger Dividend Announcement

The business 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 2.62%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

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.