Schlumberger Limited $SLB Shares Acquired by Stockman Wealth Management Inc.

Key Points

• Stockman Wealth Management Inc. has increased its stake in Schlumberger Limited by 14.0% in the second quarter, now holding 263,251 shares valued at approximately $8.9 million.
• On Wall Street, several firms have adjusted their target prices for Schlumberger, with consensus ratings leaning towards a Moderate Buy and an average target price of $52.18.
• Schlumberger announced a quarterly dividend of $0.285 per share, representing a yield of 3.2%, with the payment scheduled for October 9th.

Stockman Wealth Management Inc. increased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 263,251 shares of the oil and gas company's stock after purchasing an additional 32,314 shares during the quarter. Stockman Wealth Management Inc.'s holdings in Schlumberger were worth $8,898,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. EntryPoint Capital LLC lifted its holdings in Schlumberger by 4.5% during the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company's stock worth $307,000 after buying an additional 316 shares during the last quarter. Heritage Wealth Management Inc. Texas lifted its holdings in shares of Schlumberger by 2.2% in the 1st 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 last quarter. Horizon Investments LLC lifted its holdings 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 valued at $946,000 after purchasing an additional 330 shares during the last quarter. CreativeOne Wealth LLC lifted its holdings 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 valued at $236,000 after purchasing an additional 335 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in shares of Schlumberger by 2.0% in the 1st quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company's stock valued at $704,000 after purchasing an additional 336 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLB. Stifel Nicolaus reduced 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. Jefferies Financial Group reduced their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Susquehanna reduced their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Zacks Research raised Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Schlumberger from $46.00 to $44.00 and set an "overweight" rating for the company in a research report on Monday, June 30th. Two equities research 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $52.18.

Schlumberger Stock Performance

NYSE SLB opened at $35.51 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The business's 50 day moving average is $34.65 and its two-hundred day moving average is $35.36. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $46.15. The stock has a market capitalization of $53.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05.

Schlumberger (NYSE:SLB - Get Free Report) last released its 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 return on equity of 20.99% and a net margin of 11.53%.The company had revenue of $8.55 billion for the quarter, compared to analysts' expectations 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. Research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger's dividend payout ratio is currently 39.04%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction 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 sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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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