Alpha Cubed Investments LLC Raises Stock Position in Schlumberger Limited (NYSE:SLB)

Alpha Cubed Investments LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,440 shares of the oil and gas company’s stock after purchasing an additional 1,226 shares during the period. Alpha Cubed Investments LLC’s holdings in Schlumberger were worth $398,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SLB. Park National Corp OH increased its position in shares of Schlumberger by 1.4% during the second quarter. Park National Corp OH now owns 335,859 shares of the oil and gas company’s stock worth $15,846,000 after purchasing an additional 4,501 shares in the last quarter. Aspire Private Capital LLC grew its holdings in shares of Schlumberger by 22.2% during the second quarter. Aspire Private Capital LLC now owns 4,297 shares of the oil and gas company’s stock worth $203,000 after buying an additional 781 shares in the last quarter. InTrack Investment Management Inc raised its position in shares of Schlumberger by 21.3% in the second quarter. InTrack Investment Management Inc now owns 10,685 shares of the oil and gas company’s stock valued at $504,000 after buying an additional 1,876 shares during the last quarter. Czech National Bank lifted its stake in shares of Schlumberger by 8.4% in the second quarter. Czech National Bank now owns 272,350 shares of the oil and gas company’s stock worth $12,849,000 after buying an additional 21,199 shares in the last quarter. Finally, Sitrin Capital Management LLC boosted its position in Schlumberger by 0.8% during the second quarter. Sitrin Capital Management LLC now owns 76,469 shares of the oil and gas company’s stock worth $3,608,000 after acquiring an additional 583 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. TD Cowen raised their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Barclays reduced their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Trading Down 0.7 %

Shares of SLB traded down $0.30 during midday trading on Tuesday, hitting $43.60. 1,410,174 shares of the stock were exchanged, compared to its average volume of 10,842,881. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market cap of $62.32 billion, a P/E ratio of 14.58, a P/E/G ratio of 0.92 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 stock has a fifty day simple moving average of $46.06 and a 200 day simple moving average of $48.62.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,779 shares of company stock valued at $11,103,553. 0.26% of the stock is currently owned by company 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.