Inspire Investing LLC Boosts Holdings in Schlumberger Limited $SLB

Key Points

• Inspire Investing LLC increased its stake in Schlumberger Limited by 13.6% during Q2, owning a total of 149,541 shares valued at approximately $5.05 million.
• Schlumberger reported $0.74 earnings per share for the last quarter, slightly surpassing analysts' expectations of $0.73, although revenue declined by 6.5% year-over-year.
• The company declared a quarterly dividend of $0.285, yielding 3.6%, with a dividend payout ratio of 39.04%.

Inspire Investing LLC lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 13.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,541 shares of the oil and gas company's stock after buying an additional 17,927 shares during the quarter. Inspire Investing LLC's holdings in Schlumberger were worth $5,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SLB. Nuveen LLC bought a new stake in Schlumberger in the first quarter worth $169,232,000. Scharf Investments LLC increased its position in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company's stock valued at $69,133,000 after acquiring an additional 281,773 shares during the last quarter. Alan B Lancz & Associates Inc. bought a new position in Schlumberger during the first quarter valued at $308,000. Stratos Investment Management LLC increased its position in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company's stock valued at $6,141,000 after acquiring an additional 103,182 shares during the last quarter. Finally, Shell Asset Management Co. increased its position in Schlumberger by 48.1% during the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company's stock valued at $2,121,000 after acquiring an additional 20,387 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $31.75 on Friday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $44.97. The company's 50 day moving average is $34.53 and its 200 day moving average is $34.91. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market cap of $47.42 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 9.21 and a beta of 0.97.

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 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 company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 EPS. Schlumberger's quarterly revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were issued a $0.285 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.6%. Schlumberger's dividend payout ratio (DPR) is presently 39.04%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set an "overweight" rating on the stock in a research report on Monday, June 30th. Melius Research initiated coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price for the company. Atb Cap Markets raised shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 1st. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, June 26th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Schlumberger in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Schlumberger presently 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 firm's stock in a transaction dated 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 sale, the insider directly owned 202,201 shares of the company's stock, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by company insiders.

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.

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