Schlumberger Limited (NYSE:SLB) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 685,398 shares of the oil and gas company’s stock after purchasing an additional 23,658 shares during the period. Gabelli Funds LLC’s holdings in Schlumberger were worth $32,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital World Investors grew its holdings in shares of Schlumberger by 72.3% during the first 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 buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in 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 during the last quarter. Winslow Capital Management LLC increased its holdings in shares of Schlumberger by 123,063.5% in the fourth 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 purchasing an additional 4,344,141 shares during the period. Boston Partners raised its stake in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Schlumberger during the second quarter worth about $92,944,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on SLB shares. Barclays decreased their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. 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 report on Monday, July 22nd. Evercore ISI lifted their price objective on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. UBS Group lowered their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.29.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were 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 legal 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 that occurred 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 sale, the director now directly 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. Over the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 0.8 %

Shares of SLB opened at $42.41 on Friday. The stock has a 50 day moving average price of $44.48 and a 200 day moving average price of $47.38. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41. 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 capitalization of $60.22 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results 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 business had revenue of $9.14 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.72 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio (DPR) 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.