Steward Partners Investment Advisory LLC Has $1.10 Million Position in Schlumberger Limited (NYSE:SLB)

Steward Partners Investment Advisory LLC raised its position in Schlumberger Limited (NYSE:SLBGet Rating) by 28.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,632 shares of the oil and gas company’s stock after acquiring an additional 5,880 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Schlumberger were worth $1,100,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Schlumberger by 16.9% in the fourth quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after acquiring an additional 16,123,949 shares during the last quarter. State Street Corp raised its position in shares of Schlumberger by 0.6% in the fourth quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock valued at $2,753,092,000 after purchasing an additional 554,778 shares during the period. Norges Bank bought a new position in shares of Schlumberger in the fourth quarter valued at about $938,856,000. Boston Partners raised its position in shares of Schlumberger by 6.5% in the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock valued at $725,420,000 after purchasing an additional 1,474,462 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Schlumberger by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company’s stock valued at $699,052,000 after purchasing an additional 714,053 shares during the period. Institutional investors and hedge funds own 76.34% of the company’s stock.

Schlumberger Trading Up 3.1 %

SLB opened at $36.17 on Tuesday. The company’s 50 day moving average is $39.52 and its 200-day moving average is $39.92. Schlumberger Limited has a 1-year low of $25.90 and a 1-year high of $49.83. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. The company has a market cap of $51.12 billion, a P/E ratio of 19.66, a PEG ratio of 0.53 and a beta of 1.93.

Schlumberger (NYSE:SLBGet Rating) last posted its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The company had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same period last year, the company posted $0.30 EPS. The firm’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 1.86 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 13th. Stockholders of record on Wednesday, September 7th will be paid a $0.175 dividend. The ex-dividend date is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.94%. Schlumberger’s payout ratio is currently 38.04%.

Insider Activity

In related news, Director Vijay Kasibhatla sold 20,000 shares of Schlumberger stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $43.32, for a total transaction of $866,400.00. Following the sale, the director now directly owns 46,529 shares in the company, valued at approximately $2,015,636.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $15.50, for a total transaction of $224,750,000.00. Following the sale, the insider now directly owns 35,101,961 shares in the company, valued at approximately $544,080,395.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 20,000 shares of Schlumberger stock in a transaction that occurred on Friday, May 6th. The stock was sold at an average price of $43.32, for a total transaction of $866,400.00. Following the sale, the director now owns 46,529 shares in the company, valued at $2,015,636.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,567,459 shares of company stock worth $430,840,521. Corporate insiders own 0.28% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. HSBC raised shares of Schlumberger from a “hold” rating to a “buy” rating and increased their price objective for the company from $4.60 to $44.20 in a research report on Wednesday, April 27th. Cowen increased their price objective on shares of Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group lowered their price target on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Wells Fargo & Company lowered their price target on shares of Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Monday, April 25th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $46.77.

Schlumberger Company Profile

(Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Read More

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBGet Rating).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.