16,859 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLBGet Rating) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 16,859 shares of the oil and gas company’s stock, valued at approximately $696,000.

Other large investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. grew its position in Schlumberger by 76.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 274,158 shares of the oil and gas company’s stock worth $11,326,000 after purchasing an additional 119,209 shares during the last quarter. ProShare Advisors LLC grew its position in Schlumberger by 2.3% during the 1st quarter. ProShare Advisors LLC now owns 474,038 shares of the oil and gas company’s stock worth $19,581,000 after purchasing an additional 10,693 shares during the last quarter. State of Tennessee Treasury Department grew its position in Schlumberger by 312.0% during the 1st quarter. State of Tennessee Treasury Department now owns 958,773 shares of the oil and gas company’s stock worth $39,607,000 after purchasing an additional 726,076 shares during the last quarter. Dupont Capital Management Corp grew its position in Schlumberger by 347.2% during the 1st quarter. Dupont Capital Management Corp now owns 27,898 shares of the oil and gas company’s stock worth $1,152,000 after purchasing an additional 21,660 shares during the last quarter. Finally, US Bancorp DE grew its position in Schlumberger by 0.8% during the 1st quarter. US Bancorp DE now owns 457,605 shares of the oil and gas company’s stock worth $18,903,000 after purchasing an additional 3,544 shares during the last quarter. Institutional investors own 78.71% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $38.07 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.35. The company has a fifty day moving average of $35.68 and a two-hundred day moving average of $39.64. The stock has a market capitalization of $53.85 billion, a PE ratio of 20.69, a P/E/G ratio of 0.49 and a beta of 1.81. Schlumberger Limited has a fifty-two week low of $26.44 and a fifty-two week high of $49.83.

Schlumberger (NYSE:SLBGet Rating) last issued its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $6.77 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.30 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 2.02 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be given a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s dividend payout ratio (DPR) is 38.04%.

Insider Activity

In other news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the sale, the insider now directly owns 23,069,461 shares in the company, valued at $392,180,837. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, July 13th. Cowen upped their price objective on shares of Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a report on Monday, July 25th. Benchmark raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a report on Wednesday, July 27th. The Goldman Sachs Group dropped their price objective on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Finally, StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Friday, August 19th. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.01.

Schlumberger Profile

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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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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