Heritage Investors Management Corp Increases Holdings in Schlumberger Limited (NYSE:SLB)

Heritage Investors Management Corp grew its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,402 shares of the oil and gas company's stock after purchasing an additional 28,790 shares during the quarter. Heritage Investors Management Corp's holdings in Schlumberger were worth $10,759,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vident Advisory LLC grew its holdings in Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company's stock valued at $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC boosted its position in shares of Schlumberger by 3.7% during 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 acquiring an additional 282 shares during the last quarter. Heritage Wealth Management Inc. Texas boosted its position in shares of Schlumberger by 2.2% during 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 acquiring an additional 318 shares during the last quarter. Wahed Invest LLC lifted its position in Schlumberger by 0.9% in the 4th quarter. Wahed Invest LLC now owns 35,022 shares of the oil and gas company's stock worth $1,343,000 after buying an additional 319 shares during the last quarter. Finally, TD Private Client Wealth LLC lifted its position in Schlumberger by 1.0% in the 4th quarter. TD Private Client Wealth LLC now owns 31,832 shares of the oil and gas company's stock worth $1,220,000 after buying an additional 322 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

NYSE SLB opened at $33.37 on Friday. The stock has a market capitalization of $45.39 billion, a PE ratio of 11.43, a P/E/G ratio of 8.96 and a beta of 1.01. The business has a 50 day simple moving average of $34.86 and a two-hundred day simple moving average of $37.53. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.24 and a quick ratio of 0.93. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.52.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The firm had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period last year, the company earned $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.42%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. UBS Group lifted their price target on Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. decreased their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock 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 note on Tuesday, July 1st. Susquehanna decreased their price target on Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. Finally, Wells Fargo & Company decreased their price target on Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Thursday, June 5th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.56.

Schlumberger 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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