MBM Wealth Consultants LLC Purchases 2,234 Shares of Schlumberger Limited (NYSE:SLB)

MBM Wealth Consultants LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 10.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,012 shares of the oil and gas company’s stock after acquiring an additional 2,234 shares during the period. MBM Wealth Consultants LLC’s holdings in Schlumberger were worth $1,007,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Financial Advocates Investment Management increased its position in shares of Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the last quarter. Chilton Capital Management LLC grew its holdings in Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. First PREMIER Bank increased its position in Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares in the last quarter. Team Hewins LLC raised its stake in shares of Schlumberger by 3.0% in the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after buying an additional 229 shares during the period. Finally, Sunbelt Securities Inc. lifted its position in shares of Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 230 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Susquehanna lowered their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Citigroup cut their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Finally, Wells Fargo & Company decreased their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.29.

Schlumberger Stock Performance

SLB stock opened at $45.58 on Tuesday. 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 company has a market capitalization of $64.72 billion, a P/E ratio of 15.14, a PEG ratio of 0.94 and a beta of 1.51. The business has a 50-day moving average price of $43.34 and a 200 day moving average price of $46.70. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.48 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger 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 owns 62,354 shares in the company, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger 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 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The trade was a 0.00 % decrease in their position. 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. 0.26% of the stock is owned by insiders.

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.