Interval Partners LP Invests $5.82 Million in Schlumberger Limited (NYSE:SLB)

Interval Partners LP acquired a new position in Schlumberger Limited (NYSE:SLB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 123,354 shares of the oil and gas company’s stock, valued at approximately $5,820,000.

A number of other hedge funds have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its holdings in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 683 shares during the last quarter. Crescent Grove Advisors LLC bought a new stake in shares of Schlumberger during the second quarter worth approximately $257,000. National Bank of Canada FI lifted its holdings in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new stake in Schlumberger during the 1st quarter worth $245,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after acquiring an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 1.2 %

SLB stock opened at $42.90 on Tuesday. The business’s 50 day simple moving average is $44.38 and its 200 day simple moving average is $47.31. 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 $61.32 billion, a PE ratio of 14.25, a PEG ratio of 0.86 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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. 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 the consensus estimate of $9.08 billion. During the same period 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. As a group, research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.56%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other Schlumberger 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 transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of several analyst reports. Barclays cut their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. 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. Finally, Bank of America dropped their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Two investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

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.