Industry News

Cypress Capital Management LLC Boosts Stock Holdings in Schlumberger Limited. (NYSE:SLB)

By August 21, 2019 No Comments

Cypress Capital Management LLC lifted its position in shares of Schlumberger Limited. (NYSE:SLB) by 17.6% in the second quarter, HoldingsChannel.com reports. The firm owned 37,141 shares of the oil and gas company’s stock after purchasing an additional 5,550 shares during the period. Cypress Capital Management LLC’s holdings in Schlumberger were worth $1,476,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. FTB Advisors Inc. boosted its holdings in shares of Schlumberger by 20.2% during the second quarter. FTB Advisors Inc. now owns 5,993 shares of the oil and gas company’s stock worth $237,000 after purchasing an additional 1,009 shares during the period. Securian Asset Management Inc boosted its holdings in shares of Schlumberger by 0.8% during the second quarter. Securian Asset Management Inc now owns 142,886 shares of the oil and gas company’s stock worth $5,678,000 after purchasing an additional 1,095 shares during the period. Condor Capital Management boosted its holdings in shares of Schlumberger by 1.9% during the second quarter. Condor Capital Management now owns 59,693 shares of the oil and gas company’s stock worth $2,372,000 after purchasing an additional 1,106 shares during the period. GWM Advisors LLC boosted its holdings in shares of Schlumberger by 8.9% during the second quarter. GWM Advisors LLC now owns 9,604 shares of the oil and gas company’s stock worth $382,000 after purchasing an additional 788 shares during the period. Finally, Trust Co. of Virginia VA boosted its holdings in shares of Schlumberger by 0.5% during the second quarter. Trust Co. of Virginia VA now owns 111,754 shares of the oil and gas company’s stock worth $4,441,000 after purchasing an additional 577 shares during the period. Institutional investors own 77.19% of the company’s stock.

In other news, EVP Patrick Schorn sold 12,151 shares of the firm’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 sale, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the sale, the insider now owns 46,354 shares in the company, valued at $1,881,508.86. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Shares of Schlumberger stock opened at $34.10 on Tuesday. The company’s fifty day simple moving average is $37.81 and its 200-day simple moving average is $40.70. The stock has a market capitalization of $45.25 billion, a PE ratio of 21.05, a P/E/G ratio of 2.05 and a beta of 1.44. Schlumberger Limited. has a 1-year low of $31.11 and a 1-year high of $65.61. 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 issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ 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 company’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. As a group, research analysts anticipate that Schlumberger Limited. will post 1.51 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.

A number of analysts have recently weighed in on the stock. Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, July 1st. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a research note on Thursday, June 20th. BMO Capital Markets set a $44.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Finally, Tudor Pickering downgraded shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a research note on Monday, April 22nd. 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. Schlumberger presently has a consensus rating of “Hold” and a consensus price target 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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