Edgemoor Investment Advisors Inc. Has $2.43 Million Holdings in Schlumberger Limited (NYSE:SLB)

Edgemoor Investment Advisors Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 13.0% in the 1st quarter, Holdings Channel reports. The fund owned 58,027 shares of the oil and gas company’s stock after buying an additional 6,695 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Schlumberger were worth $2,426,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of SLB. Brighton Jones LLC raised its stake in Schlumberger by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock worth $253,000 after acquiring an additional 1,166 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Schlumberger during the fourth quarter worth about $209,000. Harbour Investments Inc. raised its stake in Schlumberger by 24.3% during the fourth quarter. Harbour Investments Inc. now owns 2,904 shares of the oil and gas company’s stock worth $111,000 after acquiring an additional 567 shares in the last quarter. TD Private Client Wealth LLC raised its stake in Schlumberger by 1.0% during the fourth quarter. TD Private Client Wealth LLC now owns 31,832 shares of the oil and gas company’s stock worth $1,220,000 after acquiring an additional 322 shares in the last quarter. Finally, Sciencast Management LP acquired a new position in Schlumberger during the fourth quarter worth about $316,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $33.37 on Monday. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 8.98 and a beta of 1.01. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.52. The stock’s 50 day moving average price is $34.86 and its two-hundred day moving average price is $37.52. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping 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 company’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.85 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.42%. Schlumberger’s payout ratio is 38.64%.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $789,969.50. This represents a 17.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several research analyst reports. UBS Group boosted their target price on Schlumberger from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Jefferies Financial Group reduced their price target on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Susquehanna reduced their price target on Schlumberger from $46.00 to $44.00 and set a “positive” rating on the stock in a report on Tuesday, July 1st. Wells Fargo & Company cut Schlumberger from a “buy” rating to an “equal weight” rating in a report on Sunday. Finally, Barclays reduced their price target on Schlumberger from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, July 10th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $50.56.

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.