Schlumberger Limited (NYSE:SLB) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in Schlumberger Limited (NYSE:SLB) by 1.4% during the first quarter, HoldingsChannel reports. The fund owned 134,150,168 shares of the oil and gas company’s stock after buying an additional 1,868,688 shares during the period. Vanguard Group Inc. owned about 0.09% of Schlumberger worth $7,352,771,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth $26,000. Register Financial Advisors LLC acquired a new position in Schlumberger during the first quarter worth $27,000. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Finally, Janiczek Wealth Management LLC lifted its stake in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.9 %

NYSE:SLB traded up $0.95 during trading hours on Friday, hitting $49.67. The company’s stock had a trading volume of 17,680,984 shares, compared to its average volume of 10,042,746. The stock has a fifty day moving average of $46.30 and a 200-day moving average of $49.06. The stock has a market capitalization of $71.00 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 1.06 and a beta of 1.55. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.48 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. Schlumberger’s payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLB. Barclays decreased their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. TD Cowen reduced their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, Susquehanna reduced their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $67.29.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock valued at $5,099,893 over the last quarter. 0.26% of the stock is currently owned by insiders.

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.