Banco Santander S.A. Acquires 1,748 Shares of Schlumberger Limited (NYSE:SLB)

Banco Santander S.A. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,169 shares of the oil and gas company’s stock after acquiring an additional 1,748 shares during the period. Banco Santander S.A.’s holdings in Schlumberger were worth $1,434,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the 4th quarter worth about $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger in the first quarter worth $27,000. Manchester Capital Management LLC grew its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at $32,000. Finally, Janiczek Wealth Management LLC grew its position in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock worth $5,099,893 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock traded up $0.95 during mid-day trading on Friday, hitting $49.67. 17,680,984 shares of the stock were exchanged, compared to its average volume of 10,042,746. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The business has a fifty day moving average price of $46.30 and a 200 day moving average price of $49.06. The stock has a market capitalization of $71.00 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.06 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Schlumberger’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.48 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. Schlumberger’s dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLB shares. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Finally, Bank of America reduced their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.29.

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.