Deltec Asset Management LLC Acquires Shares of 28,000 Schlumberger Limited (NYSE:SLB)

Deltec Asset Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 28,000 shares of the oil and gas company’s stock, valued at approximately $1,321,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC lifted its stake in Schlumberger by 297.9% in the 1st 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 during the last quarter. Bruce G. Allen Investments LLC increased its position in Schlumberger by 204.2% in 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 acquiring an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new position in Schlumberger in the 4th quarter valued at approximately $32,000. Finally, Rational Advisors LLC acquired a new position in Schlumberger in the 1st quarter valued at approximately $35,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the business’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 transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold a total of 223,779 shares of company stock valued at $11,103,553 over the last quarter. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. BMO Capital Markets decreased their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Evercore ISI increased their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, TD Cowen increased their price objective on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.56.

Schlumberger Stock Performance

SLB stock traded up $0.01 during mid-day trading on Wednesday, hitting $43.78. The company had a trading volume of 6,302,000 shares, compared to its average volume of 10,838,408. The firm has a market cap of $62.16 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The stock’s fifty day moving average price is $46.06 and its two-hundred day moving average price is $48.55.

Schlumberger (NYSE:SLB) last announced 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. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Schlumberger Company 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.