Morningstar Investment Management LLC Buys 3,015 Shares of Schlumberger Limited $SLB

Morningstar Investment Management LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,744 shares of the oil and gas company’s stock after acquiring an additional 3,015 shares during the quarter. Morningstar Investment Management LLC’s holdings in Schlumberger were worth $532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. raised its stake in 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 valued at $27,000 after buying an additional 477 shares during the period. Atlas Capital Advisors Inc. bought a new stake in Schlumberger in the 1st quarter valued at $33,000. Alpine Bank Wealth Management bought a new stake in Schlumberger in the 1st quarter valued at $34,000. Atticus Wealth Management LLC bought a new position in shares of Schlumberger in the second quarter valued at about $29,000. Finally, Park Square Financial Group LLC bought a new position in shares of Schlumberger in the first quarter valued at about $38,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 39,727 shares of the business’s 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 sale, the insider owned 202,201 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on SLB shares. UBS Group lowered their price target on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, August 20th. Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Melius Research initiated coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 price target on the stock. Stifel Nicolaus lowered their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Finally, Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.06.

Schlumberger Trading Up 1.8%

Shares of Schlumberger stock opened at $32.28 on Tuesday. The firm has a market capitalization of $48.22 billion, a PE ratio of 11.06, a price-to-earnings-growth ratio of 8.82 and a beta of 0.97. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $44.97. 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 firm’s 50 day moving average is $34.52 and its 200 day moving average is $34.74.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd were paid a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.14 annualized dividend and a dividend yield of 3.5%. Schlumberger’s payout ratio is currently 39.04%.

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.