Schlumberger Limited (NYSE:SLB) Shares Bought by Greystone Financial Group LLC

Greystone Financial Group LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 26.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 199,627 shares of the oil and gas company’s stock after purchasing an additional 41,372 shares during the period. Schlumberger makes up approximately 1.8% of Greystone Financial Group LLC’s investment portfolio, making the stock its 21st largest holding. Greystone Financial Group LLC’s holdings in Schlumberger were worth $9,418,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of SLB. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $27,000. Manchester Capital Management LLC boosted its stake in Schlumberger by 297.9% during the first 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 grew its holdings in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Transcendent Capital Group LLC bought a new stake in Schlumberger in the fourth quarter worth about $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger in the 2nd quarter valued at about $30,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLB. 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. TD Cowen upped their price target on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Barclays cut their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Schlumberger Stock Down 1.5 %

SLB traded down $0.60 during trading on Friday, reaching $40.62. 9,864,106 shares of the stock traded hands, compared to its average volume of 10,591,951. 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 fifty-two week low of $40.37 and a fifty-two week high of $62.12. The stock’s 50-day simple moving average is $45.59 and its two-hundred day simple moving average is $47.96. The stock has a market cap of $58.06 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 0.94 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities research analysts expect 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is presently 36.54%.

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.