Custom Index Systems LLC Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Custom Index Systems LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 37.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,269 shares of the oil and gas company’s stock after purchasing an additional 2,537 shares during the quarter. Custom Index Systems LLC’s holdings in Schlumberger were worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SLB. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at $27,000. Manchester Capital Management LLC raised its position in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares in the last quarter. Bruce G. Allen Investments LLC raised its position in shares of Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares in the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $32,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 1.5 %

Shares of SLB opened at $40.62 on Friday. The firm’s 50-day moving average price is $45.59 and its 200-day moving average price is $47.95. The firm has a market capitalization of $57.67 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.88 and a beta of 1.51. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 1-year low of $40.37 and a 1-year high of $62.12.

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

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.71%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. Barclays decreased their target price on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. TD Cowen lifted their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Susquehanna decreased their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. Finally, UBS Group decreased their target price on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

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