Ascent Group LLC Acquires 4,705 Shares of Schlumberger Limited (NYSE:SLB)

Ascent Group LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 32.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,075 shares of the oil and gas company’s stock after acquiring an additional 4,705 shares during the quarter. Ascent Group LLC’s holdings in Schlumberger were worth $1,046,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $26,000. Manchester Capital Management LLC grew its position in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the last quarter. Transcendent Capital Group LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. Finally, Rational Advisors LLC purchased a new stake in Schlumberger during the first quarter valued at approximately $35,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE:SLB traded down $0.31 during mid-day trading on Tuesday, hitting $47.55. The company’s stock had a trading volume of 3,241,316 shares, compared to its average volume of 11,005,856. The business’s fifty day moving average is $46.31 and its two-hundred day moving average is $48.98. The stock has a market cap of $67.51 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 1.04 and a beta of 1.55. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SLB. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Susquehanna decreased their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Finally, TD Cowen upped their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Insiders sold a total of 286,874 shares of company stock worth $14,148,517 in the last three months. Company insiders own 0.26% of the company’s stock.

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.