Arizona State Retirement System Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Arizona State Retirement System lifted its stake in Schlumberger Limited (NYSE:SLB) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 412,558 shares of the oil and gas company’s stock after purchasing an additional 2,638 shares during the period. Arizona State Retirement System’s holdings in Schlumberger were worth $19,464,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SLB. Register Financial Advisors LLC purchased a new stake in Schlumberger in the first quarter worth about $27,000. Bruce G. Allen Investments LLC lifted its stake 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 valued at $28,000 after purchasing an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC grew its stake in Schlumberger by 297.9% in the first 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. Finally, Riverview Trust Co raised its holdings in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s 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 transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly 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 available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were 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 owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last quarter. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SLB has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Susquehanna cut their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Barclays cut their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Citigroup lowered their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Stock Down 1.5 %

SLB opened at $40.62 on Friday. Schlumberger Limited has a twelve month low of $40.37 and a twelve month high of $62.12. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The firm has a 50 day moving average price of $45.59 and a 200-day moving average price of $47.96. The stock has a market capitalization of $58.06 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.94 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the firm earned $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. Schlumberger’s dividend payout ratio is currently 36.54%.

Schlumberger 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.