Schlumberger Limited $SLB Shares Acquired by Godsey & Gibb Inc.

Key Points

• Godsey & Gibb Inc. increased its stake in Schlumberger Limited by 9.6%, acquiring an additional 43,135 shares during the second quarter, bringing their total holdings to 493,092 shares valued at approximately $16.67 million.
• Schlumberger recently announced a quarterly dividend of $0.285, translating to an annualized yield of 3.3% based on a payout ratio of 39.04%.
• Despite a year-over-year revenue decline of 6.5%, Schlumberger's earnings per share for the most recent quarter exceeded analyst estimates, with a reported EPS of $0.74.

Godsey & Gibb Inc. lifted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 9.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 493,092 shares of the oil and gas company's stock after purchasing an additional 43,135 shares during the quarter. Godsey & Gibb Inc.'s holdings in Schlumberger were worth $16,667,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SLB. EntryPoint Capital LLC raised its position in shares of Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after acquiring an additional 316 shares in the last quarter. Heritage Wealth Management Inc. Texas lifted its position in Schlumberger by 2.2% during the first quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company's stock valued at $616,000 after purchasing an additional 318 shares during the period. Horizon Investments LLC boosted its stake in shares of Schlumberger by 1.5% in the 1st quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company's stock worth $946,000 after buying an additional 330 shares during the last quarter. CreativeOne Wealth LLC lifted its stake in shares of Schlumberger by 6.3% in the 1st quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company's stock worth $236,000 after purchasing an additional 335 shares during the period. Finally, Forza Wealth Management LLC grew its position in shares of Schlumberger by 5.8% during the 1st quarter. Forza Wealth Management LLC now owns 6,374 shares of the oil and gas company's stock valued at $266,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLB. Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Jefferies Financial Group reduced their price target on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Schlumberger in a research report on Saturday, September 27th. Stifel Nicolaus lowered their target price on Schlumberger from $54.00 to $52.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Stock Performance

Schlumberger stock opened at $34.59 on Tuesday. The stock has a market cap of $51.66 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 9.51 and a beta of 0.97. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $46.15. The firm has a 50 day simple moving average of $34.60 and a 200-day simple moving average of $35.06. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger's revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the business posted $0.85 EPS. On average, analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

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 issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger's dividend payout ratio is 39.04%.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on 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 transaction, the insider directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

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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