Lafayette Investments Inc. Buys 1,000 Shares of Schlumberger Limited (NYSE:SLB)

Lafayette Investments Inc. increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,000 shares of the oil and gas company’s stock after acquiring an additional 1,000 shares during the quarter. Lafayette Investments Inc.’s holdings in Schlumberger were worth $613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SLB. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC grew 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 buying an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake 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 valued at $28,000 after buying an additional 392 shares during the period. Transcendent Capital Group LLC bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Finally, Rational Advisors LLC purchased a new stake in Schlumberger in the first quarter worth $35,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Stephane Biguet sold 50,048 shares of the firm’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 directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the 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 transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Insiders sold 185,696 shares of company stock worth $9,264,905 in the last three months. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have commented on SLB shares. Susquehanna lowered their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. UBS Group dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two investment 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Price Performance

NYSE SLB opened at $43.99 on Friday. The business’s fifty day moving average is $46.11 and its 200 day moving average is $48.18. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. 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 company has a market capitalization of $62.46 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55.

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

Schlumberger Announces Dividend

The firm also recently declared 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 is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.