Flaharty Asset Management LLC Makes New $67,000 Investment in Schlumberger Limited $SLB

Flaharty Asset Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,600 shares of the oil and gas company’s stock, valued at approximately $67,000.

A number of other institutional investors have also modified their holdings of SLB. First Command Advisory Services Inc. grew its stake in Schlumberger by 300.0% during the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. acquired a new stake in Schlumberger in the 1st quarter valued at $33,000. Alpine Bank Wealth Management purchased a new position in Schlumberger in the first quarter valued at about $34,000. Park Square Financial Group LLC acquired a new position in shares of Schlumberger during the first quarter worth about $38,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.1%

Shares of Schlumberger stock opened at $36.16 on Thursday. The business has a 50-day moving average price of $34.81 and a 200 day moving average price of $35.86. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The firm has a market cap of $54.00 billion, a P/E ratio of 12.38, a P/E/G ratio of 9.93 and a beta of 1.05. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. The company had revenue of $8.55 billion during the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, September 3rd. Schlumberger’s dividend payout ratio is currently 39.04%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. Barclays decreased their price objective on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday, July 21st. Melius Research assumed coverage on Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Finally, JPMorgan Chase & Co. cut their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.86.

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.