Keene & Associates Inc. Purchases 2,053 Shares of Schlumberger Limited (NYSE:SLB)

Keene & Associates Inc. raised its position in Schlumberger Limited (NYSE:SLB) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,984 shares of the oil and gas company’s stock after acquiring an additional 2,053 shares during the period. Schlumberger makes up approximately 2.7% of Keene & Associates Inc.’s holdings, making the stock its 20th biggest holding. Keene & Associates Inc.’s holdings in Schlumberger were worth $3,255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its stake in 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 purchasing an additional 392 shares in the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the second quarter worth $30,000. Manchester Capital Management LLC lifted its stake in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the period. Finally, Riverview Trust Co lifted its stake in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on 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 directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction 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 sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Bank of America decreased their price objective on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $67.00.

Schlumberger Stock Up 0.4 %

Shares of SLB opened at $39.96 on Monday. The firm has a market cap of $56.74 billion, a P/E ratio of 13.28, a PEG ratio of 0.85 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.78. The stock’s 50 day moving average is $44.90 and its two-hundred day moving average is $47.63. 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 (NYSE:SLB) last released its quarterly earnings results 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. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. Analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.