8,218 Shares in Schlumberger Limited (NYSE:SLB) Acquired by BTC Capital Management Inc.

BTC Capital Management Inc. bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,218 shares of the oil and gas company’s stock, valued at approximately $404,000.

A number of other hedge funds have also recently bought and sold shares of SLB. Norges Bank acquired a new stake in Schlumberger during the fourth quarter worth approximately $1,008,286,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 200.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock worth $527,173,000 after acquiring an additional 7,158,943 shares during the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Schlumberger by 4,851.2% in the 1st quarter. Providence Capital Advisors LLC now owns 5,958,923 shares of the oil and gas company’s stock valued at $121,363,000 after purchasing an additional 5,838,569 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Schlumberger by 11,443.1% in the 4th quarter. Bessemer Group Inc. now owns 5,179,388 shares of the oil and gas company’s stock valued at $276,889,000 after purchasing an additional 5,134,518 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Schlumberger by 27.8% in the 4th quarter. Franklin Resources Inc. now owns 12,655,195 shares of the oil and gas company’s stock valued at $676,547,000 after purchasing an additional 2,752,648 shares during the last quarter. Institutional investors and hedge funds own 79.43% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total value of $1,807,200.00. Following the completion of the sale, the executive vice president now owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Mogharbel Khaled Al sold 30,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $60.24, for a total value of $1,807,200.00. Following the completion of the sale, the executive vice president now owns 324,867 shares of the company’s stock, valued at approximately $19,569,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Katharina Beumelburg sold 1,339 shares of Schlumberger stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $57.70, for a total transaction of $77,260.30. Following the completion of the transaction, the insider now directly owns 6,431 shares of the company’s stock, valued at $371,068.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 158,805 shares of company stock valued at $9,220,673. Insiders own 0.23% of the company’s stock.

Schlumberger Stock Performance

Schlumberger stock opened at $61.21 on Tuesday. Schlumberger Limited has a 12-month low of $33.80 and a 12-month high of $62.78. The company has a market capitalization of $86.99 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.76 and a beta of 1.82. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.33 and a quick ratio of 0.97. The firm’s fifty day moving average price is $58.28 and its 200 day moving average price is $51.74.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $8.20 billion. Schlumberger had a net margin of 12.63% and a return on equity of 21.27%. The company’s revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, research analysts forecast that Schlumberger Limited will post 2.98 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 6th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date of this dividend is Tuesday, September 5th. Schlumberger’s payout ratio is currently 36.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SLB shares. Susquehanna lifted their price target on shares of Schlumberger from $68.00 to $72.00 and gave the company a “positive” rating in a report on Thursday, September 7th. Capital One Financial started coverage on shares of Schlumberger in a report on Wednesday, June 7th. They issued an “overweight” rating and a $63.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $62.00 price target on shares of Schlumberger in a report on Monday, July 24th. Raymond James lifted their price target on shares of Schlumberger from $65.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, July 24th. Finally, StockNews.com started coverage on shares of Schlumberger in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.73.

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, integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.