Bay Harbor Wealth Management LLC Has $87,000 Holdings in Schlumberger Limited $SLB

Bay Harbor Wealth Management LLC boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 275.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,568 shares of the oil and gas company’s stock after acquiring an additional 1,884 shares during the quarter. Bay Harbor Wealth Management LLC’s holdings in Schlumberger were worth $87,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its position in Schlumberger by 478.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares during the period. Boston Partners raised its stake in shares of Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock worth $824,160,000 after purchasing an additional 4,300,222 shares in the last quarter. Northern Trust Corp raised its stake in shares of Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock worth $602,860,000 after purchasing an additional 604,832 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Schlumberger by 22.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock worth $375,738,000 after purchasing an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Schlumberger by 3.8% during the 1st quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after purchasing an additional 281,937 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Schlumberger in a research note on Saturday, September 27th. UBS Group cut their price target on Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, August 20th. Susquehanna cut their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a research note on Monday, July 21st. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Finally, Stifel Nicolaus cut their price objective on Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $52.18.

Schlumberger Stock Up 0.4%

Shares of SLB stock opened at $34.26 on Friday. The stock’s 50 day simple moving average is $34.63 and its 200 day simple moving average is $35.15. 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 twelve month low of $31.11 and a twelve month high of $46.15. The company has a market capitalization of $51.17 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 9.51 and a beta of 0.97.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 for 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% compared to the same quarter last year. During the same period last year, the business earned $0.85 EPS. As a group, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The business 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 3.3%. Schlumberger’s payout ratio is 39.04%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider directly owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by 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.