Continuum Advisory LLC Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Continuum Advisory LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 23.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,954 shares of the oil and gas company’s stock after purchasing an additional 1,324 shares during the quarter. Continuum Advisory LLC’s holdings in Schlumberger were worth $328,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of SLB. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $27,000. Bruce G. Allen Investments LLC grew its holdings in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of Schlumberger by 297.9% during the 1st 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 during the period. Riverview Trust Co boosted its stake in Schlumberger by 90.6% in the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred 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 directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on 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 directly owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. In the last three months, insiders sold 223,779 shares of company stock valued at $11,103,553. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.8 %

Shares of SLB stock traded down $0.35 during trading hours on Tuesday, hitting $45.01. 601,076 shares of the company were exchanged, compared to its average volume of 10,707,731. The stock has a market capitalization of $63.91 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 0.93 and a beta of 1.55. The business’s 50-day simple moving average is $46.11 and its two-hundred day simple moving average is $48.40. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.44%. Schlumberger’s payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Barclays lowered their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. TD Cowen increased their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America reduced their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.