Worth Financial Advisory Group LLC Purchases 3,118 Shares of Schlumberger Limited (NYSE:SLB)

Worth Financial Advisory Group LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 39.5% during the second quarter, HoldingsChannel reports. The fund owned 11,007 shares of the oil and gas company’s stock after buying an additional 3,118 shares during the quarter. Worth Financial Advisory Group LLC’s holdings in Schlumberger were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors increased its position in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD increased its holdings in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the period. Winslow Capital Management LLC raised its position in Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares during the last quarter. Finally, Boston Partners lifted its holdings in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 1.2 %

Shares of NYSE SLB traded down $0.56 during midday trading on Tuesday, hitting $45.04. 5,189,119 shares of the stock traded hands, compared to its average volume of 10,609,447. 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. The business has a 50 day moving average price of $46.17 and a two-hundred day moving average price of $48.28. The company has a market cap of $64.38 billion, a PE ratio of 14.96, a P/E/G ratio of 0.96 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the business posted $0.72 EPS. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts predict that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Evercore ISI raised their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Susquehanna decreased their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Bank of America dropped 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. Finally, StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Activity at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction that occurred 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 approximately $977,956.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 185,696 shares of company stock valued at $9,264,905. 0.26% of the stock is 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.