Highland Capital Management LLC decreased its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,248 shares of the oil and gas company’s stock after selling 2,768 shares during the quarter. Highland Capital Management LLC’s holdings in Schlumberger were worth $5,494,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Chesley Taft & Associates LLC increased its position in Schlumberger by 2.1% during the 2nd quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock worth $854,000 after buying an additional 450 shares during the period. BTC Capital Management Inc. grew its position in Schlumberger by 3.6% in the second quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock valued at $3,520,000 after acquiring an additional 3,056 shares during the last quarter. Griffin Asset Management Inc. grew its position in Schlumberger by 44.3% in the first quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock valued at $5,833,000 after acquiring an additional 41,076 shares during the last quarter. Manning & Napier Group LLC grew its position in Schlumberger by 4.6% in the second quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock valued at $136,608,000 after acquiring an additional 152,088 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. grew its position in Schlumberger by 31.2% in the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock valued at $1,385,000 after acquiring an additional 7,566 shares during the last quarter. 77.22% of the stock is owned by institutional investors and hedge funds.
Shares of Schlumberger stock traded up $0.71 on Friday, reaching $32.36. 7,918,925 shares of the stock were exchanged, compared to its average volume of 10,323,685. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $38.34 and a two-hundred day moving average price of $40.85. Schlumberger Limited. has a 1-year low of $31.11 and a 1-year high of $65.61. The firm has a market capitalization of $47.89 billion, a PE ratio of 19.97, a PEG ratio of 2.17 and a beta of 1.44.Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts expect 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. Shareholders of record on Wednesday, September 4th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 6.18%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
SLB has been the topic of a number of recent research reports. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the company a “hold” rating in a research note on Monday, April 22nd. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a research note on Monday, April 22nd. Raymond James reissued a “hold” rating on shares of Schlumberger in a research note on Friday, June 21st. Gabelli initiated coverage on Schlumberger in a research note on Thursday, June 27th. They set a “buy” rating and a $55.00 price target on the stock. Finally, Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, June 7th. Two equities research 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. The stock has an average rating of “Hold” and an average target price of $52.17.
In related news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at $5,060,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
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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