Great Lakes Advisors LLC Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Great Lakes Advisors LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,477,314 shares of the oil and gas company’s stock after buying an additional 186,981 shares during the quarter. Schlumberger makes up 1.0% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Great Lakes Advisors LLC’s holdings in Schlumberger were worth $116,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. BCM Advisors LLC increased its position in shares of Schlumberger by 1.1% during the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after purchasing an additional 204 shares during the last quarter. Financial Advocates Investment Management raised its holdings in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 218 shares during the period. Hilltop Holdings Inc. lifted its stake in Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares during the last quarter. Finally, Chilton Capital Management LLC grew its holdings in Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Shares of NYSE SLB traded down $0.60 during trading hours on Friday, reaching $40.62. 9,864,106 shares of the stock traded hands, compared to its average volume of 10,591,951. The company has a market capitalization of $58.06 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. The company’s 50-day simple moving average is $45.59 and its two-hundred day simple moving average is $47.96. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 52-week low of $40.37 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the business posted $0.72 EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock valued at $9,048,624. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLB shares. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Citigroup dropped their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Susquehanna cut their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Finally, Evercore ISI raised their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.