CX Institutional Has $358,000 Holdings in Schlumberger Limited $SLB

CX Institutional lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,591 shares of the oil and gas company’s stock after selling 989 shares during the quarter. CX Institutional’s holdings in Schlumberger were worth $358,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Nuveen LLC bought a new stake in Schlumberger during the 1st quarter valued at approximately $169,232,000. Scharf Investments LLC lifted its position in shares of Schlumberger by 20.5% in the 1st 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 lifted 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 worth $3,142,000 after acquiring an additional 66,907 shares during the period. Alan B Lancz & Associates Inc. bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $308,000. Finally, Stratos Investment Management LLC lifted its position in shares of Schlumberger by 236.0% in the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after acquiring an additional 103,182 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SLB shares. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Melius started coverage on Schlumberger in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Barclays cut their price target on Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. JPMorgan Chase & Co. lowered their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Finally, Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares in the company, valued at approximately $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Schlumberger Stock Up 2.7%

NYSE SLB opened at $35.51 on Friday. The business has a fifty day moving average price of $34.65 and a two-hundred day moving average price of $35.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15. The stock has a market capitalization of $53.04 billion, a PE ratio of 12.16, a PEG ratio of 9.60 and a beta of 1.05.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Schlumberger’s quarterly revenue was down 6.5% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 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 9th. Investors of record on Wednesday, September 3rd will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger’s dividend payout ratio (DPR) is presently 39.04%.

Schlumberger 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.