Raymond James Trust N.A. increased its stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,674 shares of the oil and gas company's stock after purchasing an additional 1,158 shares during the period. Raymond James Trust N.A.'s holdings in Schlumberger were worth $1,169,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC raised its holdings in shares of Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 551 shares during the last quarter. JFS Wealth Advisors LLC increased its position in Schlumberger by 95.6% during 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 in the last quarter. Acadian Asset Management LLC acquired a new position in Schlumberger in the 1st quarter valued at about $25,000. WD Rutherford LLC purchased a new position in Schlumberger in the 1st quarter valued at about $26,000. Finally, Crewe Advisors LLC boosted its stake in shares of Schlumberger by 768.4% during 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 last quarter. Hedge funds and other institutional investors own 78.71% of the company's stock.
Get Schlumberger alerts:Analyst Upgrades and Downgrades
SLB has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Schlumberger from $55.00 to $59.00 and gave the company an "overweight" rating in a research note on Wednesday, June 8th. Cowen raised their price objective on Schlumberger from $47.00 to $49.00 and gave the stock an "outperform" rating in a report on Monday, July 25th. The Goldman Sachs Group dropped their target price on Schlumberger from $54.00 to $45.00 and set a "buy" rating for the company in a research note on Wednesday, July 13th. StockNews.com downgraded Schlumberger from a "buy" rating to a "hold" rating in a research report on Friday, August 19th. Finally, Benchmark upgraded Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 price target for the company in a report on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of "Moderate Buy" and an average price target of $47.01.
Schlumberger Stock Performance
NYSE:SLB opened at $35.00 on Friday. The firm's fifty day simple moving average is $37.02 and its 200 day simple moving average is $39.41. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78. Schlumberger Limited has a twelve month low of $27.65 and a twelve month high of $49.83. The firm has a market capitalization of $49.50 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.45 and a beta of 1.81.Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.10. The company had revenue of $6.77 billion for the quarter, compared to analysts' expectations of $6.28 billion. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities research analysts expect that Schlumberger Limited will post 2.02 earnings per share for the current fiscal year.
Schlumberger Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 2.00%. Schlumberger's payout ratio is currently 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.
Further Reading
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