Veriti Management LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 1.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,109 shares of the oil and gas company's stock after acquiring an additional 658 shares during the quarter. Veriti Management LLC's holdings in Schlumberger were worth $1,434,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Kings Point Capital Management bought a new position in Schlumberger during the first quarter worth $28,000. Vontobel Holding Ltd. raised its holdings in Schlumberger by 1.0% during the first quarter. Vontobel Holding Ltd. now owns 139,449 shares of the oil and gas company's stock worth $5,887,000 after buying an additional 1,386 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Schlumberger by 76.9% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 274,158 shares of the oil and gas company's stock worth $11,326,000 after buying an additional 119,209 shares during the last quarter. Wetherby Asset Management Inc. raised its holdings in Schlumberger by 3.4% during the first quarter. Wetherby Asset Management Inc. now owns 42,352 shares of the oil and gas company's stock worth $1,750,000 after buying an additional 1,389 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Schlumberger by 2.3% during the first quarter. ProShare Advisors LLC now owns 474,038 shares of the oil and gas company's stock worth $19,581,000 after buying an additional 10,693 shares during the last quarter. 78.71% of the stock is owned by institutional investors.
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Schlumberger Stock Performance
NYSE SLB opened at $35.00 on Monday. Schlumberger Limited has a 52-week low of $27.65 and a 52-week high of $49.83. The company has a 50-day simple moving average of $37.02 and a 200 day simple moving average of $39.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.98 and a current ratio of 1.35. The company has a market capitalization of $49.50 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 0.45 and a beta of 1.81.
Schlumberger (NYSE:SLB – Get Rating) last issued its earnings results 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. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a net
margin of 10.56% and a return on equity of 15.06%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. On average, research analysts predict that Schlumberger Limited will post 2.02 EPS for the current year.
Schlumberger Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be given a dividend of $0.175 per share. The ex-dividend date is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a yield of 2.00%. Schlumberger's dividend payout ratio is presently 38.04%.
Analyst Ratings Changes
SLB has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Wednesday, July 13th. Barclays upped their price objective on shares of Schlumberger from $55.00 to $59.00 and gave the stock an "overweight" rating in a report on Wednesday, June 8th. Cowen increased their target price on shares of Schlumberger from $47.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, July 25th. StockNews.com downgraded shares of Schlumberger from a "buy" rating to a "hold" rating in a report on Friday, August 19th. Finally, Benchmark upgraded shares of Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 target price for the company in a report on Wednesday, July 27th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $47.01.
About Schlumberger
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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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