Vision Capital Management Inc. Boosts Stake in Schlumberger Limited $SLB

Vision Capital Management Inc. grew its position in shares of Schlumberger Limited (NYSE:SLB) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,549 shares of the oil and gas company’s stock after buying an additional 8,400 shares during the quarter. Vision Capital Management Inc.’s holdings in Schlumberger were worth $4,075,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. First Command Advisory Services Inc. grew its stake in Schlumberger by 300.0% in the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares during the period. Atticus Wealth Management LLC purchased a new position in shares of Schlumberger in the 2nd quarter worth about $29,000. Atlas Capital Advisors Inc. bought a new position in Schlumberger during the first quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Schlumberger by 55.3% during 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 buying an additional 350 shares during the period. Finally, Alpine Bank Wealth Management purchased a new stake in Schlumberger during the first quarter worth about $34,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $34.57 on Friday. The company has a 50 day moving average of $34.60 and a 200 day moving average of $35.43. 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 stock has a market cap of $51.63 billion, a P/E ratio of 11.84, a P/E/G ratio of 9.61 and a beta of 1.05. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.15.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $8.55 billion during 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 business’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.85 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Piper Sandler reduced their target price on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research report on Friday, July 18th. Barclays reduced their price objective on Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Monday, July 21st. Melius began coverage on Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 target price on the stock. Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.18.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the firm’s stock in a transaction dated 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 owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This trade represents a 16.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.22% of the stock is owned by corporate insiders.

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.