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Asset Dedication LLC Has $122,000 Stock Position in Schlumberger Limited. (NYSE:SLB)

By August 26, 2019 No Comments

Asset Dedication LLC raised its position in shares of Schlumberger Limited. (NYSE:SLB) by 68.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,054 shares of the oil and gas company’s stock after buying an additional 1,246 shares during the period. Asset Dedication LLC’s holdings in Schlumberger were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Birch Hill Investment Advisors LLC increased its holdings in shares of Schlumberger by 4.6% in the second quarter. Birch Hill Investment Advisors LLC now owns 464,905 shares of the oil and gas company’s stock valued at $18,476,000 after purchasing an additional 20,265 shares in the last quarter. Dowling & Yahnke LLC increased its holdings in shares of Schlumberger by 1.4% in the second quarter. Dowling & Yahnke LLC now owns 28,951 shares of the oil and gas company’s stock valued at $1,151,000 after purchasing an additional 390 shares in the last quarter. AE Wealth Management LLC increased its holdings in shares of Schlumberger by 129.0% in the second quarter. AE Wealth Management LLC now owns 17,666 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 9,953 shares in the last quarter. Flagship Harbor Advisors LLC increased its holdings in shares of Schlumberger by 45.6% in the second quarter. Flagship Harbor Advisors LLC now owns 7,483 shares of the oil and gas company’s stock valued at $297,000 after purchasing an additional 2,344 shares in the last quarter. Finally, Jolley Asset Management LLC increased its holdings in shares of Schlumberger by 17.1% in the second quarter. Jolley Asset Management LLC now owns 78,379 shares of the oil and gas company’s stock valued at $3,115,000 after purchasing an additional 11,473 shares in the last quarter. 77.19% of the stock is owned by institutional investors.

Shares of NYSE SLB traded down $1.68 during midday trading on Friday, reaching $32.03. 11,945,211 shares of the stock were exchanged, compared to its average volume of 10,313,566. The company has a market capitalization of $46.62 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 2.11 and a beta of 1.44. Schlumberger Limited. has a 12 month low of $31.11 and a 12 month high of $65.57. The business has a 50-day simple moving average of $37.34 and a two-hundred day simple moving average of $40.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 EPS. Equities research analysts expect that Schlumberger Limited. will post 1.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a yield of 6.24%. Schlumberger’s dividend payout ratio is currently 123.46%.

In related news, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada reduced their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 15th. Piper Jaffray Companies set a $40.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research note on Monday, July 1st. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Finally, Stifel Nicolaus raised shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, June 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.17.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company’s Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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