Cetera Investment Advisers Acquires 91,280 Shares of Schlumberger Limited (NYSE:SLB)

Key Points

• Cetera Investment Advisers increased its stake in Schlumberger Limited by 42.5%, purchasing an additional 91,280 shares, bringing their total owned shares to 305,867 valued at approximately $12.79 million.
• Several institutional investors have recently enhanced their positions in Schlumberger, with holdings by large firms reflecting an overall institutional ownership of 81.99%.
• Schlumberger reported a quarterly earnings per share (EPS) of $0.74, exceeding analysts' expectations, despite a 6.5% year-over-year decline in revenue.

Cetera Investment Advisers boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 42.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,867 shares of the oil and gas company's stock after purchasing an additional 91,280 shares during the period. Cetera Investment Advisers' holdings in Schlumberger were worth $12,785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Vident Advisory LLC lifted its stake in shares of Schlumberger by 1.0% in the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock worth $1,067,000 after acquiring an additional 273 shares during the period. Glen Eagle Advisors LLC increased its stake in Schlumberger by 3.7% in the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company's stock valued at $301,000 after buying an additional 282 shares during the period. Heritage Wealth Management Inc. Texas increased its stake in Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after buying an additional 318 shares during the period. Wahed Invest LLC grew its position in Schlumberger by 0.9% in the fourth quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after acquiring an additional 319 shares in the last quarter. Finally, Financial Management Professionals Inc. grew its position in Schlumberger by 2.0% in the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock worth $704,000 after acquiring an additional 336 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Down 1.1%

SLB traded down $0.37 during trading on Thursday, reaching $33.80. 13,117,469 shares of the stock were exchanged, compared to its average volume of 17,969,990. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock's 50 day moving average price is $34.79 and its two-hundred day moving average price is $37.28. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $48.57. The stock has a market cap of $45.67 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 9.48 and a beta of 1.01.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter in the previous year, the business posted $0.85 earnings per share. Schlumberger's quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Activity

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the transaction, the director owned 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Wells Fargo & Company cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Susquehanna reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. Finally, UBS Group lifted their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $49.28.

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.