Beaton Management Co. Inc. Invests $202,000 in Schlumberger Limited (NYSE:SLB)

Beaton Management Co. Inc. purchased a new position in Schlumberger Limited (NYSE:SLBGet Rating) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,895 shares of the oil and gas company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sugarloaf Wealth Management LLC increased its position in shares of Schlumberger by 1,059.6% in the first quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 551 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the first quarter worth approximately $25,000. JFS Wealth Advisors LLC increased its position in shares of Schlumberger by 95.6% in the first quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 302 shares during the last quarter. WD Rutherford LLC bought a new position in shares of Schlumberger in the first quarter worth approximately $26,000. Finally, Crewe Advisors LLC increased its position in shares of Schlumberger by 768.4% in the first quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 584 shares during the last quarter. 78.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the topic of several research analyst reports. Morgan Stanley decreased their price objective on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 13th. The Goldman Sachs Group reduced their price target on shares of Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Cowen increased their price target on shares of Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a research report on Monday, July 25th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Finally, Benchmark upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Wednesday, July 27th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $47.01.

Schlumberger Price Performance

SLB opened at $38.17 on Friday. The stock has a 50-day moving average price of $35.89 and a 200-day moving average price of $39.53. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.98. The firm has a market cap of $53.99 billion, a PE ratio of 20.74, a P/E/G ratio of 0.47 and a beta of 1.81. Schlumberger Limited has a 1 year low of $26.44 and a 1 year high of $49.83.

Schlumberger (NYSE:SLBGet Rating) last posted its quarterly earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion during the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a return on equity of 15.06% and a net margin of 10.56%. Schlumberger’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. Sell-side analysts predict that Schlumberger Limited will post 2.02 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 7th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 annualized dividend and a yield of 1.83%. Schlumberger’s payout ratio is 38.04%.

About Schlumberger

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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