Greystone Financial Group LLC Has $9.42 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Greystone Financial Group LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,627 shares of the oil and gas company’s stock after purchasing an additional 41,372 shares during the quarter. Schlumberger accounts for approximately 1.8% of Greystone Financial Group LLC’s holdings, making the stock its 21st biggest position. Greystone Financial Group LLC’s holdings in Schlumberger were worth $9,418,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock valued at $7,352,771,000 after acquiring an additional 1,868,688 shares in the last quarter. Capital World Investors increased its holdings in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after buying an additional 10,606,191 shares during the period. Norges Bank bought a new position in shares of Schlumberger during the 4th quarter worth about $1,000,292,000. Finally, Capital International Investors boosted its position in shares of Schlumberger by 0.6% during the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 1.5 %

SLB stock traded down $0.60 during midday trading on Friday, reaching $40.62. The company’s stock had a trading volume of 9,864,106 shares, compared to its average volume of 10,591,951. The business’s 50-day simple moving average is $45.59 and its 200-day simple moving average is $47.96. The stock has a market cap of $58.06 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55. Schlumberger Limited has a 52 week low of $40.37 and a 52 week high of $62.12. 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 (NYSE:SLB) last announced its quarterly earnings data 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. 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 is 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 in the last 90 days. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on SLB. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Susquehanna decreased their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. UBS Group dropped their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Citigroup dropped their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Company 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.