951 Shares in Schlumberger Limited (NYSE:SLB) Purchased by N.E.W. Advisory Services LLC

N.E.W. Advisory Services LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 951 shares of the oil and gas company’s stock, valued at approximately $40,000.

Several other hedge funds also recently modified their holdings of SLB. Morningstar Investment Management LLC acquired a new position in Schlumberger in the first quarter valued at approximately $532,000. Meeder Advisory Services Inc. grew its holdings in Schlumberger by 13.9% during the 1st quarter. Meeder Advisory Services Inc. now owns 39,323 shares of the oil and gas company’s stock worth $1,644,000 after acquiring an additional 4,788 shares during the period. Hurley Capital LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at $47,000. Viawealth LLC lifted its stake in shares of Schlumberger by 3.3% in the 1st quarter. Viawealth LLC now owns 21,445 shares of the oil and gas company’s stock valued at $896,000 after purchasing an additional 680 shares during the period. Finally, Foundations Investment Advisors LLC boosted its position in shares of Schlumberger by 92.8% in the 1st quarter. Foundations Investment Advisors LLC now owns 17,254 shares of the oil and gas company’s stock worth $721,000 after purchasing an additional 8,306 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 1.1%

Shares of Schlumberger stock opened at $33.80 on Friday. The firm has a market cap of $45.67 billion, a PE ratio of 11.58, a P/E/G ratio of 9.48 and a beta of 1.01. The business’s 50 day simple moving average is $34.79 and its 200 day simple moving average is $37.28. 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 Limited has a 52-week low of $31.11 and a 52-week high of $48.57.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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 company had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders 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 dividend yield of 3.4%. Schlumberger’s dividend payout ratio is presently 39.04%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus cut their target price on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Monday, June 30th. Morgan Stanley reduced their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. 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, Susquehanna reduced their price target on shares of Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.28.

Insider Activity at Schlumberger

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Company 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.