Quarry LP Purchases 421 Shares of Schlumberger Limited (NYSE:SLB)

Quarry LP increased its position in Schlumberger Limited (NYSE:SLB) by 22.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,296 shares of the oil and gas company’s stock after acquiring an additional 421 shares during the period. Quarry LP’s holdings in Schlumberger were worth $108,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after purchasing an additional 1,868,688 shares in the last quarter. Capital World Investors lifted its stake in Schlumberger by 72.3% during the 1st 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 acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings 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 acquiring an additional 10,606,191 shares during the last quarter. Capital International Investors grew its stake in shares of Schlumberger by 0.6% in the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock worth $770,122,000 after acquiring an additional 89,483 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Up 2.8 %

Shares of SLB opened at $43.14 on Wednesday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.20. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $61.25 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51. The business’s 50 day moving average is $43.56 and its 200 day moving average is $46.89.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. 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 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 dividend on an annualized basis and a dividend yield of 2.55%. Schlumberger’s payout ratio is 36.54%.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred 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 completion of 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 SEC, which is available through this link. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction 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 approximately $12,432,012.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SLB. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday. TD Cowen raised their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Bank of America dropped their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Barclays reduced their price target 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. Two equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.78.

About Schlumberger

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.