State of Michigan Retirement System Grows Stock Holdings in Schlumberger Limited. (NYSE:SLB)

State of Michigan Retirement System increased its stake in Schlumberger Limited. (NYSE:SLB) by 11.7% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 354,446 shares of the oil and gas company’s stock after buying an additional 37,174 shares during the period. State of Michigan Retirement System’s holdings in Schlumberger were worth $6,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Royal Fund Management LLC bought a new stake in Schlumberger in the first quarter worth $26,000. Banco de Sabadell S.A grew its position in Schlumberger by 66.7% during the 1st quarter. Banco de Sabadell S.A now owns 2,000 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 800 shares during the last quarter. Cornerstone Advisors Inc. grew its position in Schlumberger by 83.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,153 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 979 shares during the last quarter. Prime Capital Investment Advisors LLC increased its stake in Schlumberger by 43.8% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 2,668 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 812 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Schlumberger by 59.0% in the second quarter. Allworth Financial LP now owns 2,075 shares of the oil and gas company’s stock worth $38,000 after buying an additional 770 shares during the last quarter. 74.92% of the stock is owned by institutional investors.

Several equities research analysts recently weighed in on SLB shares. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. UBS Group lifted their target price on Schlumberger from $18.00 to $19.50 and gave the stock a “neutral” rating in a report on Monday, July 27th. Citigroup raised Schlumberger from a “neutral” rating to a “buy” rating and upped their price target for the company from $20.00 to $26.00 in a report on Monday, July 27th. DZ Bank downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $7.00 price objective for the company. in a report on Tuesday, April 21st. Finally, Barclays lowered their target price on shares of Schlumberger from $21.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, April 20th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $22.72.

In related news, EVP Abdellah Merad sold 14,822 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $19.19, for a total value of $284,434.18. Following the transaction, the executive vice president now directly owns 54,750 shares of the company’s stock, valued at approximately $1,050,652.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Patrick Schorn sold 34,468 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $17.83, for a total value of $614,564.44. Following the completion of the transaction, the executive vice president now owns 80,000 shares of the company’s stock, valued at $1,426,400. The disclosure for this sale can be found here. Insiders sold a total of 84,290 shares of company stock valued at $1,506,249 in the last quarter. 0.58% of the stock is currently owned by company insiders.

NYSE SLB opened at $18.14 on Friday. The business’s fifty day moving average is $18.67 and its 200 day moving average is $21.96. Schlumberger Limited. has a fifty-two week low of $11.87 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.91 and a current ratio of 1.23. The company has a market capitalization of $25.17 billion, a PE ratio of -1.15, a price-to-earnings-growth ratio of 4.94 and a beta of 2.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 24th. The oil and gas company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.06. The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.38 billion. Schlumberger had a positive return on equity of 8.12% and a negative net margin of 73.90%. The business’s revenue for the quarter was down 35.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. On average, sell-side analysts forecast that Schlumberger Limited. will post 0.55 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.76%. The ex-dividend date is Tuesday, September 1st. Schlumberger’s dividend payout ratio is currently 34.01%.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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