Norden Group LLC Acquires Shares of 6,009 Schlumberger Limited $SLB

Norden Group LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,009 shares of the oil and gas company’s stock, valued at approximately $203,000.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $238,000. Versant Capital Management Inc increased its position in shares of Schlumberger by 114.2% during the 1st quarter. Versant Capital Management Inc now owns 3,209 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,711 shares during the last quarter. Moody National Bank Trust Division increased its position in shares of Schlumberger by 6.2% during the 1st quarter. Moody National Bank Trust Division now owns 25,209 shares of the oil and gas company’s stock valued at $1,054,000 after purchasing an additional 1,467 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Schlumberger by 5,982.4% during the 1st quarter. GAMMA Investing LLC now owns 905,848 shares of the oil and gas company’s stock valued at $37,864,000 after purchasing an additional 890,955 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Schlumberger Stock Up 2.7%

SLB stock opened at $35.51 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $53.04 billion, a PE ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The stock has a 50-day simple moving average of $34.65 and a two-hundred day simple moving average of $35.36.

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

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.2%. Schlumberger’s payout ratio is presently 39.04%.

Wall Street Analyst Weigh In

SLB has been the subject of several research analyst reports. Susquehanna decreased their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research report on Monday, July 21st. Jefferies Financial Group decreased their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, June 26th. Melius Research started coverage on Schlumberger in a report on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price objective for the company. Atb Cap Markets raised Schlumberger from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 1st. Finally, UBS Group decreased their price objective on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $52.18.

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.