Philip James Wealth Mangement LLC Grows Position in Schlumberger Limited $SLB

Key Points

• Philip James Wealth Management LLC significantly increased its stake in Schlumberger Limited by 302.7% during the second quarter, acquiring an additional 17,697 shares to hold a total of 23,544 shares valued at $796,000.
• Schlumberger recently announced a quarterly dividend of $0.285 per share, reflecting an annualized dividend of $1.14 and a yield of 3.3%, payable on October 9th.
• Despite reporting earnings per share of $0.74 for the last quarter, which slightly exceeded estimates, Schlumberger's revenue decreased by 6.5% year-over-year.

Philip James Wealth Mangement LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 302.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,544 shares of the oil and gas company's stock after buying an additional 17,697 shares during the quarter. Philip James Wealth Mangement LLC's holdings in Schlumberger were worth $796,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 478.8% in the first 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 period. Boston Partners increased its stake in Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company's stock worth $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its position in Schlumberger by 4.4% in the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company's stock valued at $602,860,000 after buying an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 worth $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company's stock worth $320,154,000 after buying an additional 281,937 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $35.07 on Thursday. Schlumberger Limited has a one year low of $31.11 and a one year high of $46.15. The firm has a market capitalization of $52.38 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 9.54 and a beta of 0.97. 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 50 day moving average price of $34.68 and a 200 day moving average price of $35.28.

Schlumberger (NYSE:SLB - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $8.51 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The business's quarterly revenue was down 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio (DPR) is currently 39.04%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SLB. UBS Group decreased their target price on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a report on Wednesday, August 20th. Stifel Nicolaus cut their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Wells Fargo & Company downgraded shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Sunday, July 20th. Barclays lowered 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. Finally, Jefferies Financial Group cut their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.18.

Insider Buying and Selling

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated 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 sale, the insider owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate 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.

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