Schlumberger Limited (NYSE:SLB) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in Schlumberger Limited (NYSE:SLB) by 79.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,389,748 shares of the oil and gas company’s stock after buying an additional 1,054,498 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of Schlumberger worth $99,891,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in SLB. Dynamic Technology Lab Private Ltd raised its holdings in Schlumberger by 32.2% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 71,390 shares of the oil and gas company’s stock worth $2,737,000 after purchasing an additional 17,405 shares in the last quarter. Geode Capital Management LLC boosted its stake in Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after acquiring an additional 1,377,134 shares during the last quarter. Scharf Investments LLC raised its holdings in shares of Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after acquiring an additional 281,773 shares during the period. Integrated Advisors Network LLC grew its position in shares of Schlumberger by 810.4% in the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock valued at $3,142,000 after acquiring an additional 66,907 shares during the period. Finally, Alan B Lancz & Associates Inc. acquired a new position in shares of Schlumberger in the 1st quarter valued at approximately $308,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research reports. Barclays cut their target price on shares of Schlumberger from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, June 26th. JPMorgan Chase & Co. decreased their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. UBS Group boosted their price target on Schlumberger from $44.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, July 2nd. Finally, Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $50.68.

Schlumberger Stock Up 0.3%

Shares of NYSE:SLB opened at $34.69 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The company has a market capitalization of $47.19 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 9.25 and a beta of 1.01. The company has a fifty day moving average of $34.88 and a 200-day moving average of $37.56. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. Schlumberger’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.29%. Schlumberger’s payout ratio is 38.64%.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total transaction of $167,900.00. Following the transaction, the director directly owned 23,525 shares of the company’s stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is owned by corporate 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.