Narwhal Capital Management raised its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 106.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,557 shares of the oil and gas company's stock after buying an additional 60,482 shares during the period. Narwhal Capital Management's holdings in Schlumberger were worth $3,973,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Schlumberger by 478.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company's stock valued at $1,994,674,000 after purchasing an additional 39,474,501 shares during the last quarter. Boston Partners lifted its stake in shares of Schlumberger by 27.7% in the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Schlumberger by 4.4% in the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Schlumberger by 22.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company's stock valued at $375,738,000 after purchasing an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Schlumberger by 3.8% in the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock valued at $320,154,000 after purchasing an additional 281,937 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on SLB shares. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Susquehanna reduced their price objective on shares of Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Zacks Research upgraded shares of Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. UBS Group dropped 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. Finally, Melius Research initiated 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $52.18.
Get Our Latest Report on SLB
Insiders Place Their Bets
In related news, insider Dianne B. Ralston sold 39,727 shares of the company'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 sale, the insider owned 202,201 shares of the company's stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.
Schlumberger Stock Performance
NYSE:SLB opened at $33.99 on Thursday. The firm's 50-day moving average is $34.57 and its 200-day moving average is $35.04. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $45.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The company has a market cap of $50.77 billion, a price-to-earnings ratio of 11.64, a PEG ratio of 9.56 and a beta of 0.97.
Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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 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 previous year, the firm posted $0.85 EPS. The business's revenue was down 6.5% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current 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 $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's payout ratio is presently 39.04%.
About Schlumberger
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB - Free Report).
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