Lyell Wealth Management LP Buys 28,799 Shares of Schlumberger Limited (NYSE:SLB)

Lyell Wealth Management LP raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 15.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 220,214 shares of the oil and gas company’s stock after acquiring an additional 28,799 shares during the period. Lyell Wealth Management LP’s holdings in Schlumberger were worth $10,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of SLB. Gryphon Financial Partners LLC lifted its stake in Schlumberger by 46.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 2,068 shares during the period. American National Bank lifted its stake in Schlumberger by 745.5% during the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 656 shares during the period. Financial Advocates Investment Management lifted its stake in Schlumberger by 25.5% during the 4th quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock valued at $322,000 after acquiring an additional 1,259 shares during the period. Level Four Advisory Services LLC lifted its stake in Schlumberger by 0.7% during the 4th quarter. Level Four Advisory Services LLC now owns 89,027 shares of the oil and gas company’s stock valued at $4,633,000 after acquiring an additional 657 shares during the period. Finally, Independent Advisor Alliance lifted its stake in Schlumberger by 28.9% during the 4th quarter. Independent Advisor Alliance now owns 10,351 shares of the oil and gas company’s stock valued at $539,000 after acquiring an additional 2,323 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction on 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 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 sold a total of 180,716 shares of company stock valued at $9,048,624 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Up 0.4 %

Shares of SLB opened at $39.96 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.78. The company has a 50 day simple moving average of $44.90 and a two-hundred day simple moving average of $47.64. The firm has a market cap of $56.74 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lowered their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Bank of America lowered their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Barclays lowered their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Evercore ISI increased their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.