Profund Advisors LLC Grows Stake in Schlumberger Limited (NYSE:SLB)

Profund Advisors LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 7.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,155 shares of the oil and gas company’s stock after buying an additional 5,949 shares during the period. Profund Advisors LLC’s holdings in Schlumberger were worth $4,065,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Gryphon Financial Partners LLC raised its stake in shares of Schlumberger by 46.3% during the fourth quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 2,068 shares during the period. CreativeOne Wealth LLC purchased a new stake in Schlumberger during the 4th quarter worth $214,000. US Bancorp DE lifted its holdings in Schlumberger by 64.3% in the 4th quarter. US Bancorp DE now owns 820,154 shares of the oil and gas company’s stock worth $42,681,000 after buying an additional 321,078 shares in the last quarter. FineMark National Bank & Trust boosted its position in Schlumberger by 5.0% in the 4th quarter. FineMark National Bank & Trust now owns 13,835 shares of the oil and gas company’s stock valued at $720,000 after buying an additional 657 shares during the last quarter. Finally, SageView Advisory Group LLC grew its stake in shares of Schlumberger by 82.5% during the fourth quarter. SageView Advisory Group LLC now owns 6,955 shares of the oil and gas company’s stock valued at $343,000 after acquiring an additional 3,145 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders 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 corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on SLB shares. UBS Group reduced their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Susquehanna dropped their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Evercore ISI increased their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Finally, Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday. They issued a “buy” rating and a $64.50 target price for the company. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Price Performance

Shares of NYSE SLB opened at $42.41 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.41. The firm has a market capitalization of $60.22 billion, a PE ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. 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 business’s fifty day moving average price is $44.48 and its two-hundred day moving average price is $47.38.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share 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 analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. On average, research analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

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