Tectonic Advisors LLC Raises Stock Holdings in Schlumberger Limited $SLB

Key Points

• Tectonic Advisors LLC raised its stake in Schlumberger Limited by 71.0% in Q2, now holding 21,007 shares valued at approximately $710,000.
• Schlumberger's most recent quarterly dividend was announced at $0.285 per share, yielding 3.4% annually.
• Corporate insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock, reflecting a 16.42% decrease in her ownership.

Tectonic Advisors LLC increased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 71.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,007 shares of the oil and gas company's stock after purchasing an additional 8,721 shares during the period. Tectonic Advisors LLC's holdings in Schlumberger were worth $710,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Narwhal Capital Management grew its stake in Schlumberger by 106.0% in the second quarter. Narwhal Capital Management now owns 117,557 shares of the oil and gas company's stock worth $3,973,000 after purchasing an additional 60,482 shares during the period. DMC Group LLC grew its stake in shares of Schlumberger by 3.7% in the second quarter. DMC Group LLC now owns 17,958 shares of the oil and gas company's stock worth $607,000 after acquiring an additional 646 shares during the last quarter. BankPlus Trust Department grew its stake in shares of Schlumberger by 1,083.4% in the second quarter. BankPlus Trust Department now owns 6,000 shares of the oil and gas company's stock worth $203,000 after acquiring an additional 5,493 shares during the last quarter. Shell Asset Management Co. grew its stake in shares of Schlumberger by 48.1% in the second quarter. Shell Asset Management Co. now owns 62,737 shares of the oil and gas company's stock worth $2,121,000 after acquiring an additional 20,387 shares during the last quarter. Finally, Godsey & Gibb Inc. grew its stake in shares of Schlumberger by 9.6% in the second quarter. Godsey & Gibb Inc. now owns 493,092 shares of the oil and gas company's stock worth $16,667,000 after acquiring an additional 43,135 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider owned 202,201 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 0.22% of the company's stock.

Schlumberger Trading Down 2.5%

Shares of NYSE:SLB opened at $33.11 on Friday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $45.12. The stock's fifty day moving average price is $34.56 and its 200-day moving average price is $34.99. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. The company has a market cap of $49.45 billion, a P/E ratio of 11.34, a PEG ratio of 9.44 and a beta of 0.97.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $8.51 billion. During the same quarter in the prior year, the company earned $0.85 earnings per share. Schlumberger's revenue was down 6.5% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.4%. Schlumberger's dividend payout ratio is currently 39.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SLB shares. Jefferies Financial Group cut their target price on Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. Susquehanna cut their target price on Schlumberger from $44.00 to $42.00 and set a "positive" rating on the stock in a research note on Monday, July 21st. 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 note on Tuesday, July 1st. Finally, Zacks Research raised Schlumberger from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $52.18.

About Schlumberger

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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