Zurcher Kantonalbank Zurich Cantonalbank Has $28.85 Million Position in Schlumberger Limited (NYSE:SLB)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Schlumberger Limited (NYSE:SLB) by 18.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 611,393 shares of the oil and gas company’s stock after selling 142,097 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Schlumberger were worth $28,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC raised its position in shares of 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 worth $28,000 after acquiring an additional 392 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in shares of Schlumberger in the 2nd quarter worth about $30,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares in the last quarter. Finally, Riverview Trust Co raised its position in shares of 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 acquiring an additional 308 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’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 approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 185,696 shares of company stock worth $9,264,905 in the last 90 days. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. TD Cowen lifted their price objective on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Susquehanna decreased their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $67.00.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.44 during midday trading on Thursday, reaching $44.18. The company’s stock had a trading volume of 7,917,459 shares, compared to its average volume of 10,589,386. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The firm has a 50 day moving average price of $46.17 and a 200-day moving average price of $48.23. The stock has a market capitalization of $63.15 billion, a P/E ratio of 14.68, a PEG ratio of 0.96 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the business earned $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 2.49%. Schlumberger’s payout ratio is presently 36.54%.

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.