Highland Private Wealth Management acquired a new stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 8,414 shares of the oil and gas company’s stock, valued at approximately $301,000.
Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Sugarloaf Wealth Management LLC lifted its holdings in shares of Schlumberger by 1,059.6% in the 1st quarter. Sugarloaf Wealth Management LLC now owns 603 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 551 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $25,000. JFS Wealth Advisors LLC lifted its holdings in shares of Schlumberger by 95.6% in the 1st quarter. JFS Wealth Advisors LLC now owns 618 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 302 shares during the last quarter. WD Rutherford LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $26,000. Finally, Crewe Advisors LLC lifted its holdings in shares of Schlumberger by 768.4% in the 1st quarter. Crewe Advisors LLC now owns 660 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 584 shares during the last quarter. Institutional investors own 78.71% of the company’s stock.
Analyst Ratings Changes
A number of research analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Benchmark upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, July 27th. Barclays boosted their target price on Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. Finally, The Goldman Sachs Group dropped their target price on Schlumberger from $54.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.01.
Schlumberger Stock Performance
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The company had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. Schlumberger’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. As a group, equities analysts forecast that Schlumberger Limited will post 2.02 earnings per share for the current year.
Schlumberger Dividend Announcement
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 paid a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s dividend payout ratio (DPR) is 38.04%.
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.
- Get a free copy of the StockNews.com research report on Schlumberger (SLB)
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