Nemes Rush Group LLC Acquires 2,342 Shares of Schlumberger Limited (NYSE:SLB)

Nemes Rush Group LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 31,032 shares of the oil and gas company’s stock after acquiring an additional 2,342 shares during the period. Nemes Rush Group LLC’s holdings in Schlumberger were worth $1,464,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth $27,000. Bruce G. Allen Investments LLC grew its position in shares of Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $30,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co raised its position in shares of Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 2.7 %

Shares of NYSE:SLB opened at $42.29 on Friday. The company’s 50-day moving average price is $43.83 and its two-hundred day moving average price is $47.08. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41. 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 stock has a market capitalization of $60.05 billion, a PE ratio of 14.05, a price-to-earnings-growth ratio of 0.92 and a beta of 1.51.

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, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.60%. Schlumberger’s dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

Several equities research analysts have commented on SLB shares. Citigroup lowered their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Barclays dropped their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Evercore ISI boosted their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Wells Fargo & Company decreased their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $66.08.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were 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 approximately $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Schlumberger Company 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.