Farther Finance Advisors LLC Has $632,000 Stock Position in Schlumberger Limited $SLB

Farther Finance Advisors LLC lowered its stake in Schlumberger Limited (NYSE:SLB) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,684 shares of the oil and gas company’s stock after selling 382 shares during the period. Farther Finance Advisors LLC’s holdings in Schlumberger were worth $632,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock valued at $1,994,674,000 after acquiring an additional 39,474,501 shares during the last quarter. Boston Partners raised its stake in shares of Schlumberger by 27.7% during the first quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after acquiring an additional 4,300,222 shares during the last quarter. Northern Trust Corp raised its stake in shares of Schlumberger by 4.4% during the first quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after acquiring an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Schlumberger by 22.8% during the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after acquiring an additional 1,667,203 shares during the last quarter. Finally, Invesco Ltd. raised its stake in Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after buying an additional 281,937 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Wells Fargo & Company downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Finally, Melius assumed coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

Schlumberger Stock Up 2.7%

Shares of NYSE SLB opened at $35.51 on Friday. The stock has a market capitalization of $53.04 billion, a P/E ratio of 12.16, a P/E/G ratio of 9.60 and a beta of 1.05. The company has a 50-day moving average price of $34.65 and a 200-day moving average price of $35.40. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. During the same period in the previous year, the company earned $0.85 earnings per share. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

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

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger 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 sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

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.