Dimensional Fund Advisors LP Increases Stake in Schlumberger Limited (NYSE:SLB)

Dimensional Fund Advisors LP grew its stake in Schlumberger Limited (NYSE:SLB) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,067,465 shares of the oil and gas company’s stock after purchasing an additional 915,705 shares during the period. Dimensional Fund Advisors LP’s holdings in Schlumberger were worth $333,445,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLB. Vanguard Group Inc. boosted its holdings in Schlumberger by 1.4% during the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares in the last quarter. Capital World Investors boosted its stake in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the period. Capital International Investors increased its stake in shares of Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after purchasing an additional 89,483 shares in the last quarter. Finally, Boston Partners increased its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 1.1 %

Shares of NYSE:SLB opened at $40.39 on Tuesday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.78. The stock has a market cap of $57.35 billion, a P/E ratio of 13.42, a PEG ratio of 0.85 and a beta of 1.51. The business has a fifty day moving average of $44.78 and a two-hundred day moving average of $47.58. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

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 firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Schlumberger’s quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

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 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SLB shares. Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Susquehanna reduced their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $66.72.

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.