Schlumberger Limited (NYSE:SLB) Shares Bought by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC increased its stake in Schlumberger Limited by 92.8% in Q1, acquiring an additional 8,306 shares, bringing their total holdings to 17,254 shares valued at approximately $721,000.
• Several other institutional investors also raised their stakes in Schlumberger, with Price T Rowe Associates Inc. increasing its holdings by 7.4% in the fourth quarter.
• Analysts have mixed ratings on Schlumberger, with price targets ranging from $42.00 to $53.00, while the stock is currently rated as a "Moderate Buy" with a consensus target price of $49.28.

Foundations Investment Advisors LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 92.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 17,254 shares of the oil and gas company's stock after purchasing an additional 8,306 shares during the period. Foundations Investment Advisors LLC's holdings in Schlumberger were worth $721,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maridea Wealth Management LLC acquired a new stake in shares of Schlumberger during the 1st quarter valued at about $435,000. Nemes Rush Group LLC grew its position in shares of Schlumberger by 6.7% during the 1st quarter. Nemes Rush Group LLC now owns 29,366 shares of the oil and gas company's stock valued at $1,227,000 after acquiring an additional 1,852 shares during the period. TCW Group Inc. grew its position in shares of Schlumberger by 5.7% during the 1st quarter. TCW Group Inc. now owns 20,925 shares of the oil and gas company's stock valued at $875,000 after acquiring an additional 1,128 shares during the period. Horan Capital Advisors LLC. acquired a new stake in shares of Schlumberger during the 1st quarter valued at about $2,563,000. Finally, LPL Financial LLC grew its position in shares of Schlumberger by 14.2% during the 1st quarter. LPL Financial LLC now owns 903,260 shares of the oil and gas company's stock valued at $37,756,000 after acquiring an additional 112,354 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Down 2.2%

Shares of SLB stock traded down $0.76 during trading on Friday, hitting $33.04. 17,069,976 shares of the stock traded hands, compared to its average volume of 18,264,012. The firm has a market capitalization of $44.65 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 9.38 and a beta of 1.03. 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 firm's fifty day moving average price is $34.78 and its 200-day moving average price is $37.24. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $46.16.

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

Schlumberger Announces Dividend

The business also recently announced 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. This represents a $1.14 annualized dividend and a yield of 3.5%. The ex-dividend date is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is 39.04%.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. UBS Group raised their target price on Schlumberger from $44.00 to $45.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a report on Monday, June 30th. Stifel Nicolaus lowered their price objective on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Finally, Jefferies Financial Group decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Schlumberger currently has a consensus rating of "Moderate Buy" and a consensus price target of $49.28.

Insiders Place Their Bets

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were 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 in the company, valued at $789,969.50. The trade was a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company's stock.

About Schlumberger

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.