Northeast Investment Management Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Northeast Investment Management increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,773 shares of the oil and gas company’s stock after buying an additional 873 shares during the period. Northeast Investment Management’s holdings in Schlumberger were worth $4,424,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger during the first quarter worth $27,000. Manchester Capital Management LLC increased its holdings in 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. Bruce G. Allen Investments LLC raised its position in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at about $32,000. Finally, Rational Advisors LLC acquired a new position in shares of Schlumberger during the first quarter worth about $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Finally, Susquehanna dropped their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Two research 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, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $1.30 during midday trading on Wednesday, reaching $43.74. 9,853,626 shares of the company were exchanged, compared to its average volume of 10,604,971. The stock has a fifty day simple moving average of $46.19 and a 200 day simple moving average of $48.27. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $62.52 billion, a P/E ratio of 14.53, a PEG ratio of 0.96 and a beta of 1.55. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last released its earnings results 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company 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 dividend of $0.275 per share. 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 2.51%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 50,048 shares of the 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 transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the business’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 sale, 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. Insiders sold 185,696 shares of company stock valued at $9,264,905 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Company 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.