Plato Investment Management Ltd Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Plato Investment Management Ltd boosted its position in Schlumberger Limited (NYSE:SLB) by 16.3% in the second quarter, Holdings Channel.com reports. The firm owned 61,334 shares of the oil and gas company’s stock after buying an additional 8,608 shares during the quarter. Plato Investment Management Ltd’s holdings in Schlumberger were worth $2,894,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SLB. 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 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 purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger during the second quarter valued at approximately $30,000. Manchester Capital Management LLC boosted 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 purchasing an additional 426 shares in the last quarter. Finally, Riverview Trust Co grew its stake 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 buying an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Up 0.4 %

SLB stock opened at $39.96 on Friday. The business’s 50-day moving average is $44.90 and its two-hundred day moving average is $47.64. The company has a market cap of $56.74 billion, a price-to-earnings ratio of 13.28, a P/E/G ratio of 0.84 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $38.66 and a fifty-two week high of $61.78. 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 (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets

A number of research analysts have issued reports on SLB shares. Susquehanna lowered their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday, July 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Barclays dropped their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, TD Cowen raised their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

About Schlumberger

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.