Schlumberger Limited (NYSE:SLB) Shares Bought by Prospector Partners LLC

Prospector Partners LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 1.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 222,260 shares of the oil and gas company’s stock after purchasing an additional 2,230 shares during the period. Prospector Partners LLC’s holdings in Schlumberger were worth $10,486,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of SLB. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. Bruce G. Allen Investments LLC lifted its holdings in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Schlumberger during the 4th quarter valued at approximately $32,000. Finally, Unique Wealth Strategies LLC bought a new position in Schlumberger during the 2nd quarter worth $30,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday. They issued a “buy” rating and a $64.50 price target on the stock. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, Barclays reduced their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.29.

Schlumberger Stock Performance

Shares of SLB stock opened at $42.41 on Friday. The stock has a 50-day moving average of $44.48 and a 200-day moving average of $47.38. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41. The stock has a market cap of $60.22 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

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 analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

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 given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

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.