Morningstar Investment Services LLC Increases Position in Schlumberger Limited. (NYSE:SLB)

Morningstar Investment Services LLC lifted its position in Schlumberger Limited. (NYSE:SLB) by 44.5% during the 2nd quarter, Holdings Channel.com reports. The fund owned 28,390 shares of the oil and gas company’s stock after acquiring an additional 8,741 shares during the period. Morningstar Investment Services LLC’s holdings in Schlumberger were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after purchasing an additional 1,125,484 shares during the period. Osborn Williams & Donohoe LLC increased its holdings in Schlumberger by 26.5% in the first quarter. Osborn Williams & Donohoe LLC now owns 110,720 shares of the oil and gas company’s stock valued at $5,017,000 after buying an additional 23,193 shares during the last quarter. Covenant Multifamily Offices LLC increased its holdings in Schlumberger by 3.6% in the first quarter. Covenant Multifamily Offices LLC now owns 31,877 shares of the oil and gas company’s stock valued at $1,389,000 after buying an additional 1,096 shares during the last quarter. Royal London Asset Management Ltd. raised its stake in Schlumberger by 1.6% during the first quarter. Royal London Asset Management Ltd. now owns 721,199 shares of the oil and gas company’s stock valued at $31,433,000 after buying an additional 11,352 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Schlumberger by 17.3% during the first quarter. Janney Montgomery Scott LLC now owns 235,935 shares of the oil and gas company’s stock valued at $10,280,000 after buying an additional 34,728 shares in the last quarter. Institutional investors own 76.94% of the company’s stock.

In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, the insider now owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is owned by company insiders.

Shares of Schlumberger stock traded up $0.29 during trading on Wednesday, hitting $37.75. 1,199,952 shares of the stock were exchanged, compared to its average volume of 10,999,077. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger Limited. has a 12 month low of $31.03 and a 12 month high of $63.65. The stock’s fifty day moving average is $34.98 and its 200 day moving average is $39.47. The stock has a market cap of $50.11 billion, a PE ratio of 23.37, a P/E/G ratio of 2.54 and a beta of 1.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. Schlumberger’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. Sell-side analysts anticipate that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.30%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 123.46%.

Several research analysts have recently commented on SLB shares. Piper Jaffray Companies set a $40.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Monday, July 1st. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Bank of America reduced their price objective on Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. Royal Bank of Canada decreased their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Schlumberger has a consensus rating of “Hold” and an average target price of $51.44.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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