Toronto Dominion Bank Increases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Toronto Dominion Bank boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 100.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,581,090 shares of the oil and gas company’s stock after buying an additional 793,008 shares during the period. Toronto Dominion Bank’s holdings in Schlumberger were worth $52,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in SLB. NorthCoast Asset Management LLC grew its stake in shares of Schlumberger by 1.9% during the first quarter. NorthCoast Asset Management LLC now owns 17,211 shares of the oil and gas company’s stock worth $468,000 after acquiring an additional 317 shares during the last quarter. Keating Investment Counselors Inc. grew its position in Schlumberger by 0.8% during the 2nd quarter. Keating Investment Counselors Inc. now owns 43,260 shares of the oil and gas company’s stock worth $1,385,000 after purchasing an additional 350 shares during the last quarter. Quadrant Capital Group LLC increased its stake in Schlumberger by 10.2% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,884 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 360 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Schlumberger by 2.8% in the first quarter. Coldstream Capital Management Inc. now owns 14,037 shares of the oil and gas company’s stock worth $382,000 after buying an additional 376 shares during the last quarter. Finally, Busey Wealth Management lifted its stake in shares of Schlumberger by 0.3% during the second quarter. Busey Wealth Management now owns 148,303 shares of the oil and gas company’s stock worth $4,747,000 after buying an additional 378 shares during the period. Institutional investors own 76.26% of the company’s stock.

SLB has been the subject of a number of research analyst reports. Cowen restated an “outperform” rating and issued a $29.03 target price (down previously from $32.00) on shares of Schlumberger in a research note on Monday, July 26th. HSBC upgraded Schlumberger from a “reduce” rating to a “hold” rating and raised their price objective for the stock from $18.10 to $25.00 in a research note on Wednesday, August 4th. Morgan Stanley increased their price target on shares of Schlumberger from $32.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. TheStreet raised shares of Schlumberger from a “d+” rating to a “c-” rating in a research report on Thursday, June 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Schlumberger in a report on Thursday, September 9th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.84.

Shares of SLB opened at $27.67 on Wednesday. Schlumberger Limited has a one year low of $13.70 and a one year high of $36.87. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.00 and a current ratio of 1.37. The stock has a 50 day moving average price of $28.36 and a 200 day moving average price of $29.53. The stock has a market capitalization of $38.69 billion, a price-to-earnings ratio of 38.43 and a beta of 2.39.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts predict that Schlumberger Limited will post 1.25 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be given a dividend of $0.125 per share. The ex-dividend date is Tuesday, August 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.81%. Schlumberger’s payout ratio is 73.53%.

Schlumberger Profile

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

Further Reading: How Does the Quiet Period Work?

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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