Schlumberger Limited (NYSE:SLB) Holdings Lifted by Richardson Financial Services Inc.

Richardson Financial Services Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 35.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,519 shares of the oil and gas company’s stock after acquiring an additional 665 shares during the quarter. Richardson Financial Services Inc.’s holdings in Schlumberger were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SLB. Capital World Investors lifted its position in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 buying an additional 10,606,191 shares during the period. Winslow Capital Management LLC grew its holdings in shares of Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after acquiring an additional 4,344,141 shares in the last quarter. Boston Partners lifted its stake in Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after acquiring an additional 3,069,395 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth $92,944,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 3.2 %

Shares of NYSE SLB opened at $42.76 on Friday. The business has a fifty day moving average of $44.56 and a two-hundred day moving average of $47.45. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.41. The stock has a market cap of $60.71 billion, a PE ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley decreased their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday. Barclays cut their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Evercore ISI lifted their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Dbs Bank began coverage on Schlumberger in a research note on Wednesday. They set a “buy” rating and a $64.50 price target on the stock. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction 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 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 transaction, 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. Insiders sold a total of 180,716 shares of company stock worth $9,048,624 over the last three months. 0.26% of the stock is currently owned by company insiders.

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.