Inspire Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Inspire Advisors LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 120.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,249 shares of the oil and gas company’s stock after buying an additional 12,688 shares during the quarter. Inspire Advisors LLC’s holdings in Schlumberger were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Schlumberger by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares during the period. Capital World Investors boosted its position in 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 valued at $4,875,402,000 after buying an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 14.1% during the first 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 last quarter. Norges Bank purchased a new stake in shares of Schlumberger during the fourth quarter worth about $1,000,292,000. Finally, Capital International Investors grew its stake in shares of Schlumberger by 0.6% in the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock worth $770,122,000 after purchasing an additional 89,483 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.4 %

Schlumberger stock opened at $39.96 on Friday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.78. The stock has a fifty day simple moving average of $44.90 and a two-hundred day simple moving average of $47.64. 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 firm has a market cap of $56.74 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 0.84 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. Equities analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on SLB shares. TD Cowen lifted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays reduced their price target 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. Citigroup lowered their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Bank of America reduced their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Finally, UBS Group lowered their target price on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by insiders.

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.