Schlumberger Limited (NYSE:SLB) Shares Bought by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. raised its position in Schlumberger Limited (NYSE:SLBGet Rating) by 100.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,176 shares of the oil and gas company’s stock after acquiring an additional 1,089 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Schlumberger were worth $87,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC grew its position in shares of Schlumberger by 1,059.6% during the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after buying an additional 551 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Schlumberger during the first quarter worth about $25,000. JFS Wealth Advisors LLC grew its position in shares of Schlumberger by 95.6% during the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after buying an additional 302 shares in the last quarter. WD Rutherford LLC acquired a new position in shares of Schlumberger during the first quarter worth about $26,000. Finally, Crewe Advisors LLC grew its position in shares of Schlumberger by 768.4% during the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock worth $27,000 after buying an additional 584 shares in the last quarter. 78.71% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Schlumberger stock opened at $39.63 on Friday. The business has a 50 day simple moving average of $36.31 and a 200-day simple moving average of $39.54. Schlumberger Limited has a 12 month low of $26.64 and a 12 month high of $49.83. The stock has a market capitalization of $56.05 billion, a PE ratio of 21.54, a price-to-earnings-growth ratio of 0.51 and a beta of 1.81. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.98.

Schlumberger (NYSE:SLBGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. Schlumberger’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. Equities analysts predict that Schlumberger Limited will post 2.02 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 1.77%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s dividend payout ratio (DPR) is 38.04%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on Schlumberger from $54.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday, July 13th. Barclays boosted their target price on Schlumberger from $55.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 8th. Cowen boosted their target price on Schlumberger from $47.00 to $49.00 and gave the stock an “outperform” rating in a research note on Monday, July 25th. Benchmark upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, July 27th. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Friday, August 19th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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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