SIR Capital Management L.P. Makes New Investment in Schlumberger Limited (NYSE:SLB)

SIR Capital Management L.P. purchased a new position in shares of Schlumberger Limited (NYSE:SLB) in the second quarter, according to its most recent filing with the SEC. The firm purchased 274,300 shares of the oil and gas company’s stock, valued at approximately $12,941,000. Schlumberger accounts for 1.3% of SIR Capital Management L.P.’s portfolio, making the stock its 29th largest holding.

Other large investors have also recently bought and sold shares of the company. Register Financial Advisors LLC acquired a new stake in Schlumberger during the 1st quarter worth about $27,000. Bruce G. Allen Investments LLC grew its holdings in Schlumberger by 204.2% during 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 during the period. Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the 2nd quarter worth about $30,000. Manchester Capital Management LLC grew its stake 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 valued at $31,000 after buying an additional 426 shares during the period. 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 valued at $31,000 after buying an additional 308 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Schlumberger stock opened at $40.41 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market cap of $57.38 billion, a P/E ratio of 13.43, a P/E/G ratio of 0.87 and a beta of 1.52. The company’s 50 day moving average price is $45.47 and its two-hundred day moving average price is $47.88. Schlumberger Limited has a 52 week low of $40.35 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly 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%. Schlumberger’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business 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 dividend yield of 2.72%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger 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 sale, the director now 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 the SEC website. In other Schlumberger 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 transaction of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale 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 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 sale, the executive vice president now directly 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 quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. TD Cowen raised their target price on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America reduced their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Barclays cut their price target on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average 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.