NorthCrest Asset Manangement LLC lowered its stake in Schlumberger Limited (NYSE:SLB – Get Rating) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,645 shares of the oil and gas company's stock after selling 1,193 shares during the period. NorthCrest Asset Manangement LLC's holdings in Schlumberger were worth $1,024,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Veriti Management LLC boosted its holdings in Schlumberger by 1.7% in the second quarter. Veriti Management LLC now owns 40,109 shares of the oil and gas company's stock valued at $1,434,000 after acquiring an additional 658 shares in the last quarter. Financial Sense Advisors Inc. bought a new stake in Schlumberger in the second quarter valued at $1,540,000. Hudson Valley Investment Advisors Inc. ADV boosted its holdings in Schlumberger by 48.4% in the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 42,449 shares of the oil and gas company's stock valued at $1,518,000 after acquiring an additional 13,845 shares in the last quarter. Capital Advisors Inc. OK bought a new stake in Schlumberger in the second quarter valued at $11,357,000. Finally, Valley National Advisers Inc. boosted its holdings in Schlumberger by 43.9% in the second quarter. Valley National Advisers Inc. now owns 1,743 shares of the oil and gas company's stock valued at $60,000 after acquiring an additional 532 shares in the last quarter. Institutional investors own 78.71% of the company's stock.
Get Schlumberger alerts:Schlumberger Price Performance
Shares of NYSE:SLB opened at $33.86 on Tuesday. Schlumberger Limited has a fifty-two week low of $27.65 and a fifty-two week high of $49.83. The business has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $39.32. 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 firm has a market cap of $47.89 billion, a price-to-earnings ratio of 18.40, 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. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. The business had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the previous year, the firm earned $0.30 EPS. Schlumberger's revenue was up 20.2% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 2.02 earnings per share for the current year.Schlumberger Announces Dividend
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 $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Tuesday, September 6th. Schlumberger's dividend payout ratio (DPR) is 38.04%.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on SLB shares. The Goldman Sachs Group dropped their target price on shares of Schlumberger from $54.00 to $45.00 and set a "buy" rating on the stock in a report on Wednesday, July 13th. Morgan Stanley dropped their target price 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. StockNews.com cut shares of Schlumberger from a "buy" rating to a "hold" rating in a report on Friday, August 19th. Benchmark upgraded shares of Schlumberger from a "hold" rating to a "buy" rating and set a $55.00 target price on the stock in a report on Wednesday, July 27th. Finally, Barclays boosted their target price on shares of Schlumberger from $55.00 to $59.00 and gave the company an "overweight" rating in a report on Wednesday, June 8th. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $47.01.
Schlumberger Company 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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