BTC Capital Management Inc. Raises Holdings in Schlumberger Limited (NYSE:SLB)

BTC Capital Management Inc. boosted its position in Schlumberger Limited (NYSE:SLB) by 22.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,174 shares of the oil and gas company’s stock after acquiring an additional 1,682 shares during the period. BTC Capital Management Inc.’s holdings in Schlumberger were worth $433,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLB. BCM Advisors LLC boosted its stake in shares of Schlumberger by 1.1% during the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after purchasing an additional 204 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares during the period. Hilltop Holdings Inc. raised its position in shares of Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 219 shares in the last quarter. First PREMIER Bank lifted its stake in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 227 shares during the period. Finally, Team Hewins LLC boosted its position in shares of Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 229 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders sold 223,779 shares of company stock worth $11,103,553 over the last three months. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. TD Cowen boosted their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. BMO Capital Markets reduced their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Citigroup decreased their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.24.

Schlumberger Price Performance

SLB traded up $0.67 during trading on Monday, hitting $45.45. 2,111,557 shares of the company traded hands, compared to its average volume of 10,734,966. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock’s 50-day simple moving average is $46.11 and its two-hundred day simple moving average is $48.43. The company has a market cap of $64.53 billion, a PE ratio of 14.88, a P/E/G ratio of 0.93 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

About Schlumberger

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.