Harbor Investment Advisory LLC Has $753,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Harbor Investment Advisory LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,954 shares of the oil and gas company’s stock after buying an additional 618 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Schlumberger were worth $753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Register Financial Advisors LLC bought a new stake in Schlumberger in the 1st quarter valued at $27,000. Manchester Capital Management LLC increased its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth about $32,000. Finally, Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the 2nd quarter worth about $30,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Dbs Bank initiated coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target for the company. Barclays decreased their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. UBS Group dropped their target price on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.29.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’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 completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $45.46 on Friday. 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 $61.20. The firm has a market cap of $64.55 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 0.94 and a beta of 1.51. The business’s fifty day moving average is $43.34 and its 200-day moving average is $46.75.

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, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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 is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.42%. Schlumberger’s dividend payout ratio is currently 36.54%.

Schlumberger 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.