Private Advisor Group LLC increased its stake in Schlumberger Limited (NYSE:SLB – Get Rating) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 88,295 shares of the oil and gas company's stock after purchasing an additional 3,482 shares during the period. Private Advisor Group LLC's holdings in Schlumberger were worth $3,158,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sugarloaf Wealth Management LLC boosted its stake in Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 551 shares during the period. Acadian Asset Management LLC acquired a new position in Schlumberger in the 1st quarter worth $25,000. JFS Wealth Advisors LLC boosted its stake in Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company's stock worth $26,000 after purchasing an additional 302 shares during the period. WD Rutherford LLC acquired a new position in Schlumberger in the 1st quarter worth $26,000. Finally, Crewe Advisors LLC boosted its stake in Schlumberger by 768.4% in the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company's stock worth $27,000 after purchasing an additional 584 shares during the period. 78.71% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SLB has been the subject of a number of recent research reports. StockNews.com downgraded shares of Schlumberger from a "buy" rating to a "hold" rating in a research note on Friday, August 19th. Morgan Stanley reduced their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, July 13th. Cowen increased their price objective on shares of Schlumberger from $47.00 to $49.00 and gave the stock an "outperform" rating in a research note on Monday, July 25th. Benchmark upgraded shares of Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Wednesday, July 27th. Finally, The Goldman Sachs Group reduced their price objective on shares of Schlumberger from $54.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and eighteen have issued 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 target price of $47.01.

Schlumberger Stock Down 3.3 %

Schlumberger (NYSE:SLB – Get Rating) last released its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion for 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 business's revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 EPS. As a group, analysts expect that Schlumberger Limited will post 2.02 EPS for the current year.

Schlumberger Announces Dividend

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 issued a dividend of $0.175 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.07%. Schlumberger's dividend payout ratio is presently 38.04%.

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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