Financial Management Network Inc. Takes $854,000 Position in Schlumberger Limited $SLB

Key Points

• Financial Management Network Inc. purchased 23,955 shares of Schlumberger Limited for approximately $854,000 during the 2nd quarter.
• Overall, 81.99% of Schlumberger's stock is currently owned by institutional investors, reflecting significant interest from hedge funds.
• Analysts have mixed ratings for Schlumberger, with two analysts issuing a Strong Buy rating, while the consensus target price is $52.18.

Financial Management Network Inc. purchased a new stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 23,955 shares of the oil and gas company's stock, valued at approximately $854,000.

Several other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its stake in shares of Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Schlumberger by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Schlumberger by 22.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Schlumberger by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after purchasing an additional 281,937 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLB. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Zacks Research raised Schlumberger from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. Stifel Nicolaus decreased their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group cut their price target on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.18.

Schlumberger Price Performance

NYSE SLB traded down $0.27 during trading hours on Friday, reaching $34.47. The company's stock had a trading volume of 33,102,000 shares, compared to its average volume of 15,493,405. The firm has a market capitalization of $51.49 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 9.64 and a beta of 1.05. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company's 50-day moving average is $34.66 and its two-hundred day moving average is $35.59.

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

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger's dividend payout ratio is presently 39.04%.

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.