Washington Capital Management Inc. Raises Stock Position in Schlumberger Limited $SLB

Washington Capital Management Inc. increased its stake in Schlumberger Limited (NYSE:SLB) by 22.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,185 shares of the oil and gas company’s stock after acquiring an additional 6,800 shares during the quarter. Schlumberger makes up about 0.9% of Washington Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Washington Capital Management Inc.’s holdings in Schlumberger were worth $1,257,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beacon Capital Management LLC boosted its stake in Schlumberger by 1,062.3% during the 2nd quarter. Beacon Capital Management LLC now owns 3,394 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 3,102 shares during the last quarter. Stockman Wealth Management Inc. increased its stake in Schlumberger by 14.0% during the second quarter. Stockman Wealth Management Inc. now owns 263,251 shares of the oil and gas company’s stock worth $8,898,000 after purchasing an additional 32,314 shares during the period. Worth Financial Advisory Group LLC increased its stake in Schlumberger by 74.4% during the second quarter. Worth Financial Advisory Group LLC now owns 10,387 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 4,430 shares during the period. Avior Wealth Management LLC increased its stake in shares of Schlumberger by 70.4% during the second quarter. Avior Wealth Management LLC now owns 8,905 shares of the oil and gas company’s stock worth $301,000 after buying an additional 3,678 shares during the period. Finally, Townsend Asset Management Corp NC ADV increased its stake in shares of Schlumberger by 5.2% during the second quarter. Townsend Asset Management Corp NC ADV now owns 108,079 shares of the oil and gas company’s stock worth $3,653,000 after buying an additional 5,309 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction 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 completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLB. Melius Research began coverage on shares of Schlumberger in a research note on Wednesday, August 20th. They issued a “buy” rating and a $82.00 price target on the stock. Piper Sandler cut their price target on Schlumberger from $44.00 to $42.00 and set a “neutral” rating for the company in a research note on Friday, July 18th. Atb Cap Markets upgraded Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Stifel Nicolaus lowered their price target on Schlumberger from $54.00 to $52.00 and set a “buy” rating for the company in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. decreased their target price on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Price Performance

Shares of NYSE SLB opened at $35.51 on Monday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. 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 company has a market capitalization of $53.04 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05. The business has a 50 day simple moving average of $34.65 and a 200-day simple moving average of $35.33.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.99% and a net margin of 11.53%.The firm’s revenue was down 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.85 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

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

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.