Mainstay Capital Management LLC ADV Purchases Shares of 9,788 Schlumberger Limited $SLB

Key Points

• Mainstay Capital Management LLC ADV purchased 9,788 shares of Schlumberger Limited, valued at approximately $331,000, during the second quarter.
• Schlumberger announced a dividend of $0.285 per share, resulting in an annualized dividend yield of 3.4%.
• Analysts have mixed opinions on Schlumberger's stock, with a consensus rating of "Moderate Buy" and an average target price of $52.18.

Mainstay Capital Management LLC ADV purchased a new stake in Schlumberger Limited (NYSE:SLB - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,788 shares of the oil and gas company's stock, valued at approximately $331,000.

Other hedge funds also recently made changes to their positions in the company. First Command Advisory Services Inc. boosted its holdings in shares of Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company's stock valued at $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of Schlumberger in the 1st quarter valued at $33,000. Alpine Bank Wealth Management acquired a new position in shares of Schlumberger in the 1st quarter valued at $34,000. Atticus Wealth Management LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at $29,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLB. Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a "neutral" rating on the stock in a report on Friday, July 18th. UBS Group reduced their target price on shares of Schlumberger from $45.00 to $44.00 and set a "buy" rating on the stock in a report on Wednesday, August 20th. Melius began coverage on shares of Schlumberger in a report on Wednesday, August 20th. They set a "buy" rating and a $82.00 target price on the stock. Atb Cap Markets upgraded shares of Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Finally, Stifel Nicolaus reduced their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Stock Performance

Schlumberger stock opened at $33.11 on Friday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $45.12. The company has a market capitalization of $49.45 billion, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 9.44 and a beta of 0.97. 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 $34.56 and its 200 day moving average price is $34.99.

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 (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 firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm's quarterly revenue was down 6.5% on a year-over-year basis. On average, research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.4%. Schlumberger's payout ratio is 39.04%.

Insider Transactions at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value 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. The trade was a 16.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.