Investors Research Corp Raises Holdings in Schlumberger Limited $SLB

Investors Research Corp boosted its stake in Schlumberger Limited (NYSE:SLB) by 226.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,763 shares of the oil and gas company’s stock after purchasing an additional 20,650 shares during the period. Investors Research Corp’s holdings in Schlumberger were worth $1,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SLB. First Command Advisory Services Inc. grew its holdings in shares of Schlumberger by 300.0% in the first quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 477 shares during the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Schlumberger during the 1st quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 350 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Schlumberger in the first quarter valued at about $34,000. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger during the first quarter valued at about $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $35.58 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15. The firm has a market capitalization of $53.14 billion, a P/E ratio of 12.18, a P/E/G ratio of 10.00 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $34.82 and a two-hundred day simple moving average of $35.75.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The firm had revenue of $8.55 billion for the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the prior year, the firm earned $0.85 EPS. The company’s revenue was down 6.5% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.2%. Schlumberger’s dividend payout ratio (DPR) is currently 39.04%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. The trade was a 16.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. UBS Group cut their target price on Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Melius started coverage on Schlumberger in a research note on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Barclays decreased their target price on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. 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 report on Monday, June 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $52.86.

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.