GC Wealth Management RIA LLC Makes New $280,000 Investment in Schlumberger Limited $SLB

Key Points

• GC Wealth Management RIA LLC has made a new investment of approximately $280,000 in Schlumberger Limited, acquiring 8,278 shares of the oil and gas company's stock.
• Various institutional investors have also increased their stakes in Schlumberger, with 81.99% of the company's stock now owned by them.
• Schlumberger has announced a quarterly dividend of $0.285 per share, representing an annualized dividend yield of 3.3%.

GC Wealth Management RIA LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,278 shares of the oil and gas company's stock, valued at approximately $280,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Command Advisory Services Inc. raised its stake in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock worth $27,000 after buying an additional 477 shares during the last quarter. Atticus Wealth Management LLC acquired a new position in shares of Schlumberger during the 2nd quarter worth $29,000. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger during the 1st quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Schlumberger by 55.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company's stock worth $33,000 after buying an additional 350 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of Schlumberger during the 1st quarter worth $34,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Wells Fargo & Company lowered shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. Melius assumed coverage on shares of Schlumberger in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Finally, Barclays reduced their target price on shares of Schlumberger from $47.00 to $46.00 and set an "overweight" rating on the stock in a report on Monday, July 21st. Two research 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's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.18.

Insider Activity

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company's stock.

Schlumberger Price Performance

SLB opened at $35.07 on Thursday. The company's 50 day simple moving average is $34.68 and its 200 day simple moving average is $35.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The stock has a market capitalization of $52.38 billion, a PE ratio of 12.01, a P/E/G ratio of 9.54 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.55 billion for the quarter, compared to analysts' expectations of $8.51 billion. During the same period last year, the company earned $0.85 earnings per share. The company's quarterly revenue was down 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current 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 given 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 3.3%. Schlumberger's dividend payout ratio (DPR) is currently 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.

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