Financial Counselors Inc. Grows Holdings in Schlumberger Limited (NYSE:SLB)

Financial Counselors Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 269,493 shares of the oil and gas company’s stock after purchasing an additional 10,224 shares during the period. Financial Counselors Inc.’s holdings in Schlumberger were worth $12,715,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its holdings in shares of Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares during the period. Crescent Grove Advisors LLC acquired a new stake in shares of Schlumberger in the 2nd quarter worth $257,000. National Bank of Canada FI boosted its holdings in shares of Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new position in shares of Schlumberger during the first quarter worth about $245,000. Finally, Canada Pension Plan Investment Board raised its holdings in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. TD Cowen boosted their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. UBS Group cut their price objective on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Bank of America cut their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Schlumberger Price Performance

SLB stock opened at $43.99 on Monday. The stock’s 50 day moving average price is $46.11 and its 200 day moving average price is $48.18. The firm has a market cap of $62.46 billion, a P/E ratio of 14.61, a PEG ratio of 0.94 and a beta of 1.55. 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 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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 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 last year, the company earned $0.72 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders 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 annualized dividend and a yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction 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 approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $216,281.40. Following the completion of 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. Insiders have sold a total of 185,696 shares of company stock valued at $9,264,905 in the last quarter. 0.26% of the stock is currently owned by company insiders.

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.