Lmcg Investments LLC Raises Holdings in Schlumberger Limited (NYSE:SLB)

Lmcg Investments LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 2,435.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 131,603 shares of the oil and gas company’s stock after acquiring an additional 126,413 shares during the period. Lmcg Investments LLC’s holdings in Schlumberger were worth $6,209,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new stake in Schlumberger during the 1st quarter worth about $27,000. Manchester Capital Management LLC increased its holdings in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 426 shares during the period. Bruce G. Allen Investments LLC increased its holdings 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 worth $28,000 after purchasing an additional 392 shares during the period. Transcendent Capital Group LLC purchased a new stake in Schlumberger during the 4th quarter worth about $32,000. Finally, Unique Wealth Strategies LLC purchased a new stake in Schlumberger during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 1.1 %

Schlumberger stock opened at $40.39 on Tuesday. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.78. The stock has a 50 day moving average of $44.78 and a two-hundred day moving average of $47.58. 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 stock has a market capitalization of $57.35 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 0.85 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders 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 2.72%. Schlumberger’s payout ratio is 36.54%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SLB. Morgan Stanley dropped their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. TD Cowen increased their price objective on Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $66.72.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the 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 of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’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 value of $6,056,326.92. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company 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.