Randolph Co Inc Takes $27.62 Million Position in Schlumberger Limited $SLB

Key Points

• Randolph Co Inc has acquired a new stake in Schlumberger Limited, purchasing 817,210 shares valued at approximately $27.62 million, making it the firm's 16th largest position.
• Insider Dianne B. Ralston sold 39,727 shares for approximately $1.43 million, reducing her ownership in the company by 16.42%.
• Several analysts have lowered their price targets for Schlumberger, with a current average target price of $52.18 and the stock's average rating being a "Moderate Buy."

Randolph Co Inc bought 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 Securities and Exchange Commission. The institutional investor bought 817,210 shares of the oil and gas company's stock, valued at approximately $27,622,000. Schlumberger accounts for approximately 2.8% of Randolph Co Inc's investment portfolio, making the stock its 16th largest position. Randolph Co Inc owned about 0.06% of Schlumberger as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Command Advisory Services Inc. grew its stake 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 buying an additional 477 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of Schlumberger in the 1st quarter valued at approximately $33,000. Alpine Bank Wealth Management bought a new stake in shares of Schlumberger in the 1st quarter valued at approximately $34,000. Atticus Wealth Management LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at approximately $29,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at approximately $38,000. Institutional investors own 81.99% of the company's stock.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group lowered their price target on Schlumberger from $45.00 to $44.00 and set a "buy" rating for the company in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lowered their price target on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research note on Monday, June 30th. Wells Fargo & Company cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Sunday, July 20th. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 1st. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Stock Down 0.1%

Shares of SLB stock opened at $34.57 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The firm has a market cap of $51.63 billion, a PE ratio of 11.84, a price-to-earnings-growth ratio of 9.61 and a beta of 1.05. The stock has a 50 day moving average of $34.60 and a 200-day moving average of $35.43. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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

Schlumberger Company 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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