IFP Advisors Inc Has $742,000 Stock Position in Schlumberger Limited $SLB

IFP Advisors Inc lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 66.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,293 shares of the oil and gas company’s stock after selling 39,996 shares during the quarter. IFP Advisors Inc’s holdings in Schlumberger were worth $742,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SLB. Charles Schwab Investment Management Inc. lifted its holdings 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 worth $1,994,674,000 after buying an additional 39,474,501 shares in the last quarter. Boston Partners lifted its holdings 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 worth $824,160,000 after buying an additional 4,300,222 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Schlumberger by 211.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 5,992,997 shares of the oil and gas company’s stock worth $250,507,000 after buying an additional 4,066,500 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Schlumberger during the first quarter worth $169,232,000. Finally, Banque Transatlantique SA lifted its holdings in shares of Schlumberger by 21,737.8% during the first quarter. Banque Transatlantique SA now owns 1,859,274 shares of the oil and gas company’s stock worth $71,821,000 after buying an additional 1,850,760 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Barclays dropped their price target on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Susquehanna dropped their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Stifel Nicolaus dropped their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday, July 16th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 30th. Finally, Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $52.06.

Schlumberger Stock Performance

Schlumberger stock opened at $32.28 on Tuesday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The business’s 50-day moving average price is $34.52 and its two-hundred day moving average price is $34.74. The stock has a market cap of $48.22 billion, a PE ratio of 11.06, a P/E/G ratio of 8.82 and a beta of 0.97.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analysts’ expectations of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. As a group, analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s payout ratio is 39.04%.

Insider Buying and Selling at Schlumberger

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

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.